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AAP
AAP
Business
Adrian Black

Small business owners urged to act early on tax debt

It can be a close shave for some small businesses to surive under current conditions. (Steven Saphore/AAP PHOTOS)

Small business owners could lose much more than their company if they don't tackle their tax debts early, according to an insolvency specialist.

With Australian National Audit Office data showing small businesses account for $35.9 billion of the Australian Taxation Office's $54.2 billion collectable tax debt, business recovery and insolvency firm Jirsch Sutherland is urging owners to act quickly.

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