Tax Office Debt is a Massive Problem in Australia.

Craig Budgen

Small businesses owe the Tax Office over $34 billion and it is increasing exponentially every year.

How have we let it come to this?

There is way too much reliance by the Government on small businesses to collect their business tax (GST) and employee tax (PAYGW) as well as provide for their employees’ retirement (super) and literally no assistance or education on how to do this properly.

It is no longer enough to be great at what you do. You have to also be a great “at business” to ensure that you don’t fall into the Tax Debt Trap.

In my 30 plus years as an accountant to small businesses, I’ve seen way too many lives fall apart because of tax debt. I’ve seen marriages split and people fall victim to depression due to the financial strain of running a small business and owing money to the Tax Office.

Tax Debt Busters was born out of my increasing alarm at the level of Tax Office debt owed by small businesses in Australia and the lack of assistance being provided to them by their accountant.

Clients ask the question, “what should I do now that I have a tax debt?” and invariably the response is to “Call the Tax Office to put a payment arrangement in place”. 

However, the question should be, “how did I find myself with a tax debt?” Unfortunately, this question rarely gets asked by the business owner nor their accountant.

If you can’t identify how the tax debt came about in the first place, you can’t fix the underlying problem and you will find yourself on the slippery slope of the Tax Debt Trap.

At Tax Debt Busters, we are passionate about helping small business owners rid themselves of tax debt once and for all.


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