Getting back on track with your tax
During these challenging times, it is easy to lose track of your tax and sometimes when you do fall behind it seems too daunting to do anything about it.
Don’t think you are alone, many small businesses go through the same issues when it comes to ATO and BAS obligations, these reasons include:
They either don’t enjoy the completing tax responsibilities side of the business.
They don’t have time to keep their paperwork up to date.
They don’t know how to prepared their BAS and tax paperwork.
It should be comforting to know that the Australian Taxation Office are fully aware of the struggles and pressures on small businesses and are committed to assisting these to get back on track.
The ATO are encouraging small business owners to work with them through this and you can be assured that they will support where they can. Their support levels include:
If you are struggling to pay your BAS or tax bills, they are committed to help you through this, by offering flexible payment plans with individual plans to suit your cash flow.
If you cannot lodge on time, they can offer extensions to the lodgements in certain circumstances.
Their message is clear. Talk to them, update them with your details if you can not keep up with your obligations – they are approachable.
Call 13 11 42 between 8am – 6pm Monday to Friday to discuss your situation.