Support for your business in difficult times

January 18, 2022

Support for your business in difficult times

Support for your business in difficult times

The ATO have a range of support available for small businesses experiencing difficult situations, such as natural disasters, mental health challenges or financial hardship.

Depending on your circumstances, they may be able to:

  • give you extra time to pay your tax
  • set up a payment plan tailored to your situation
  • re-issue tax returns, activity statements and notices of assessment, for example, if you need to access government payments or concessions
  • help you reconstruct lost or damaged tax records
  • prioritise any refunds you are owed
  • remit penalties or interest charged during the time you have been affected.

If you’re in financial difficulty and need support, the small business debt helpline offers free, independent and confidential advice for small business owners.

Read more:

 

Source: https://www.ato.gov.au/Newsroom/smallbusiness/General/Support-for-your-business-in-difficult-times/

Related Journals

Cyber Security Spring Clean

Cyber Security Spring Clean

No doubt you will have heard about one of the many data breaches recently as a result of cyber attacks. These unfortunate events are shining a light on how important personal information is. It may be time to review your cyber security practices and give them a spring...

read more
Beat the DIN Rush!

Beat the DIN Rush!

Director of an Australian company?You need to apply for your Director ID by 30 November 2022.The simplest way? Apply by using the myGovID app to log in to ABRS online. Once logged in, you need to verify your identity with information they have on record.Commonly used...

read more