Tax season can be daunting, but it doesn’t have to be a source of dread. Our solution for our franchisees and referral partners is designed to help their clients, making tax season more manageable for all involved.
Recent Changes and Challenges
The ATO has announced that they will be reporting tax debts to credit reporting bureaus. This means that businesses with overdue debts exceeding $100,000 for more than 90 days will face heightened scrutiny. The ATO disclosed the scale of tax debt has skyrocketed to $50.2 billion post-pandemic, with over 20,000 business tax debts disclosed to credit agencies in just the first six months of this financial year. It’s important to note that company tax returns are due by 28 February 2024, adding to the urgency for businesses to address their tax obligations.
Rate Money’s Innovative Solution
At Rate Money, we view tax season as an opportunity rather than a burden. We can consolidate ATO tax debt into residential home loans and better yet, we do so at prime full doc rates. This generally means your clients can pay off their debt with a lower interest rate, making just one payment each month, and they get more time to pay it off. Plus, it may help keep their credit score safe!
Another benefit to consider for your clients when consolidating tax debt, is that they’re not just paying bills—you could be giving their business a much-needed financial breather. It’s like hitting the refresh button on their cash flow. Suddenly, they could have some capital to play with, which means they can invest back into their business. No more feeling stuck in a rut during tax season. It’s all about propelling you and your clients growth forward and leaving the stress behind.
How We Empower Our Partners
Our tailored solutions simplify support for franchisees and referral partners, while also providing distinct benefits for brokers. Through our referral program, brokers enjoy a favourable clawback policy safeguarding their commissions. Additionally, by waiving application and valuation fees for clients, we make the loan process more accessible and cost-effective. At Rate Money, our unique offerings present an opportunity to fuel your growth and deliver value to your clients.
Flip the script on tax season with Rate Money! Don’t just survive tax time—thrive with our solutions. Click here and let’s get started!
Note: Any information provided does not constitute an offer of credit and are examples of what may be available to you based on the information available. It does not take into account any product features or any applicable fees. Lending criteria and the basis upon which we assess what you may be able to afford may change at any time without notice.
