 |
|
||||||||||||
ATO Wants YouDON'T WAIT for the dreaded knock on the door from 'you know who'. Get your financial affairs in order now as the ATO is chasing up $6.5 billion in debts owed by Australian businesses. Small business owners should review their financial systems now that the Australian Taxation Office is getting debt collectors to chase outstanding small business debts, tax specialists warn. The debts, worth around $6.5 billion, have continued to climb despite an earlier offer by the tax office for people to make low-interest payments. There are about 650,000 debt cases in which an average of $7500 is owed.But tax specialists says the blitz is a timely reminder for businesses to have regular check-ups with their accountants and bookkeepers. One of the main problem areas lie with the GST and the lag in BAS returns. People concerned about meeting their tax obligations should talk to their accountant and bookkeeper and/or contact the tax office on 13 28 66. |
||
