ATO Default Reports and Credit Ratings

Have made some progress with a MP in having the concerns around the ATO reporting arrears of tax as a default for credit reports.

Here is what I have been told

From our meeting, the MP reached out to the Hon Kelly O’Dwyer MP, Minister of Revenue and Financial Services. The results were surprising.

Summary of what we have achieved:

1. ATO have altered their position from ‘Obligation’ to report Equifax, to ‘Discretion’.
2. ATO already began the process of creating an independent internal review process on appealing disputed listings as an additional safeguard.
3. Hon Kelly O’Dwyer MP has requested further community consultation
4. Most importantly, the ATO has agreed that those to be listed will be Company Directors whom the ATO have committed active collection work for 180 days (not 90 days), which brings them in line with the banking industry. Those clients with aged ATO debts will not be listed until they go through the 180-day collection process. So if you have an old ATO debt from 5 years ago, you're safe -for now.