Threshold set for disclosure of significant tax debts
2017 regulations set the threshold for disclosure of significant tax debts to approved credit reporting agencies at $150,000.
A threshold for the disclosure of significant tax debts to approved credit reporting agencies has been set at $150,000.
The threshold comes into force on 29 June 2017.
When a taxpayer owes more than this amount, along with meeting remaining criteria, their tax debt information may be disclosed to certain credit reporting agencies.
This minimum threshold was set with reference to a range of businesses and their outstanding tax debts.
The threshold was set by Order in Council on 29 May 2017.
Taxation (Disclosure of Information to Approved Credit Reporting Agencies) Regulations 2017