Consolidate Australian Tax Office (ATO) debt
Can I consolidate my ATO debt to my home loan? ✅Yes. Some niche players will lend up to 80% (value of property + ATO debt). The loan must be less than 80% of the value of the property plus the ATO debt combined. ✅Must provide a reasonable explanation as to why you're late with your payments. ✅Must provide evidence that you can afford this new loan. There are also low doc options. Does my Credit File show ATO debt? ✅Yes. ✅To show on your credit file the debt needs to be more than $10,000 and overdue longer than 90 days without contacting the ATO to work it out. ✅This will hurt your credit rating. There are still a couple of niche lenders that will not credit score in this space. ✅It's a good idea to have an accountant help you manage communication with the taxation office. ✅Sometimes refinancing your ATO debt into your mortgage is a good solution to get you back on track with one manageable monthly payment. Must explain the reason for the tax debt ✅A lender will v...