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ATO payment plans can help businesses "GET BACK ON TRACK"
August 23, 2021
Type your Struggling small businesses have been urged to be proactive at tax time, with reports showing a decline in small business payment plan arrangements over the past three years.
Small business ombudsman Bruce Bilson said if any businesses are struggling to meet their tax obligations, the worst thing they can do is put their head in the sand.
“Small businesses are strongly encouraged to get on the front foot by lodging now and reaching out to the ATO – either online or by phone – for a tailored payment plan, if having difficulties meeting payment obligations,” he said.
“The ATO has told my office it is also introducing a system for payment plans in arrears to give small and family businesses a chance to get back on track rather than falling into default and having to start again.”
Small businesses engaged in a tax dispute are encouraged to contact the ombudsman’s office for help on 1300 650 460 or info@asbfeo.gov.au ...
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