Company Debt Advice

If you have unpaid company taxes and need assistance with your business tax debt, contact Wisdom Business Consultants.

When you are committing your time, energy and money to a company that is struggling, it is incredibly stressful. Understandably, tired and overwhelmed small business owners can easily give in to the temptation to shy-away from professional help, instead applying ‘band-aid’ solutions. However, these temporary fixes can be detrimental to a business’s ability to recover.

The most important thing for companies experiencing financial difficulty to understand is that it is not something to be embarrassed about. In reality, most businesses experience common debt problems at some stage of their lives. Moreover, the accumulation of business debt is usually caused by factors out of a company’s control, including unfavourable economic conditions and slow or non-paying customers. Fortunately, there is help available and the sooner companies take action, the easier their ability to recover.


At Wisdom Business Consultants, we specialise in providing expert advice and solutions for companies to pay off their debts. We have both formal and informal strategies to deal with a range of business debt including utilities, business loans, rent and tax. We understand that every company is unique, and so place a strong focus on providing tailored solutions for managing debt; therefore, ensuring the fastest path to debt recovery.

To get your company back on track, contact Wisdom today by phoning 1300 277 148 or emailing

Company Debt Advice

Tax Debt Advice for Every Company Size

Whether you are a big or small business, no company can afford to ignore debt. Failing to take action can result in the buildup of interest, late fees and other charges. Worse still, creditors may eventually have the power to commence legal proceedings. In some cases, this can have serious consequences for company directors including personal liability or even criminal charges.

If you’re cannot afford to repay your debt, you definitely cannot afford to ignore it.

Tax Debt Advice for Every Company Size

What can you do to get on top of business debt?

If your small business is struggling with unmanageable debt, you will most likely need the assistance of professional debt negotiators. There are, however, a number of initial steps small business owners can take to simplify the process:


By calculating the money you owe against the money owed to you, you will have a clearer understanding of your financial position. This will help you to determine how much you can afford to pay now and what needs to be put on a payment plan.


Chasing payment from slow and non-paying customers can give you a much needed injection of cash flow. This can help to settle your most urgent debts and buy more time to seek professional advice.


The National Debt Helpline provides advice to individuals, sole traders and businesses experiencing financial hardship. Their free service includes information on how to fix common debt problems, your rights when dealing with debt collectors and the dispute resolution scheme.

When you contact the National Debt Helpline, they can connect you with a qualified financial adviser for free, independent and confidential advice.

Visit the National Debt Helpline website at or call them on 1800 007 007.


By speaking with one of our qualified financial counsellors, you can get practical advice and assistance with your business debt. We can assess your financials and formulate a plan to better manage your cash flow, loan repayments and other expenses, enabling you to manageably repay your business debt.

What is tax deductible for a Company?

Understanding your company’s eligible tax deductions can help prevent paying excess tax and accumulating business debt. Deductions accepted by the Australian Tax Office (ATO) are:

  • expenses that have been for business use
  • partial claims if the expense was partly for business and partly for private use
  • supported by records

At Wisdom, we understand the deductions, obligations and concessions relevant to small businesses. We can ensure your company claims all applicable entitlements by their due date, ensuring you do not pay more tax than required.

Tax deductible for a Company

Debt Advice for Limited Companies

A company is a business structure in Australia that operates as its own legal entity, seperate from its directors and shareholders. Legally, companies own their assets, are responsible for the business’s debts and can sue or be sued; therefore, affording limited liability. However, like every rule, there are exceptions.

In some situations, directors may be held personally liable for unpaid business taxes. This can occur when the ATO issues a Director Penalty Notice (DPN) for overdue taxes related to:

  • Pay As You Go (PAYG) tax
  • Goods and services tax (GST)
  • Superannuation guarantee charge (SGC)

DPNs have been used intensively since early 2022, when the ATO sent out over 50,000 notices in an attempt to bridge the post-Covid tax gap. If ignored, personal liability could result in a director being legally ordered to pay their company’s outstanding tax debts with personal assets such as cash, vehicles or real estate.

Similarly, trading whilst insolvent can also expose directors to personal liability. While the Corporations Act provides some statutory defences, a director must be able to substantiate that they took positive steps to prevent business debt, they had reasonable grounds to suspect solvency or they did not have a managerial role at that time.

Financial and Tax Advice for Companies Australia-Wide

At Wisdom, we are focussed on providing fast, effective and professional assistance to sole traders and directors of companies facing financial difficulty. We pride ourselves on providing services that are tailored, flexible and accessible Australia-wide.

Getting started with settling your company debt is as simple as a single phone call. We offer a free, no-obligation consultation to discuss you situation and answer initial questions. This gives you the peace of mind that our financial counsellors are the right fit to help you.

From there, we will analyse your financial situation and put together a comprehensive plan to deal with your debt. This may be achieved through business restructuring, debt negotiation or debt consolidation. Whichever option you choose, our compassionate and understanding staff will be there to support you throughout the entire process.

Financial and Tax Advice for Companies

Experienced Advisors and Company Tax Consultants

If your business is struggling to meet its tax obligations, business loan repayments or you find yourself accumulating personal debts while funding your business to keep it afloat, it’s time to seek professional advice. An independent financial counsellor can implement strategies to get on top of your business finances and prevent bankruptcy.

At Wisdom, we provide a no-obligation consultation for small business owners to access free and confidential advice. We can assess your financial situation and implement tailored strategies to deal with your business debts and create a specific plan to better manage your business finances in the future, too.

Don’t let small business debt keep you up at night, contact Wisdom for free, independent and confidential advice today! Phone 1300 277 148 or email

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