More small businesses seek loans from brokers

A survey conducted by the Australian Finance Group, a mortgage aggregator, found that 28 per cent of brokers said the proportion of business loans they were writing had increased relative to the number of home loans. This may reflect pressure from creditors, including the Australian Tax Office, to refinance tax debts. The Tax Office's annual report, released last week, said it had begun prosecutions against 30,000 taxpayers “who ignored us or defaulted on their agreement” and warned it would take even firmer action this year.

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