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North Bruny, TAS 7150

Should you borrow to pay tax?

The answer is as for many questions - it depends. It can be the pathway to overcoming a short term problem or it can amount to mortgaging the future to pay for the mistakes or misfortunates of the past.

The ABC recently carried the heartbreaking stories of small business owners who have been financially devasted after borrowing money at high interest rates to pay the business’ tax.

The ABC television and website: https://www.abc.net.au/.../predatory-lenders.../103875522 recorded terrible examples of the small business owner disadvantage by trying to do the right thing without input from a knowledgeable and caring adviser.

See our website for our analysis of what can go wrong so borrowing might be contemplated and then what your options are and how you choose between the various options: https://www.pkftasmania.com.au/.../should-you-borrow-to.../

See the part of website with details of the work we have done in this area over many years: https://www.pkftasmania.com.au/.../dealing-with.../ We are knowledgeable and caring and can talk to lenders or insolvency practitioners to see what is right for you.