New measures to tackle late payments to small businesses
|
Hornsby Based Accountants, Business Tax Agents and Consultants
#Hornsby Accountant#Hornsby Tax#Hornby Business
Small businesses prioritising growth in 2025
|
Trade payment defaults and business insolvencies on the rise
|
New Digital ID login for ATO services
|
Weekly wages continue to increase
|
What happens if my business is behind on its taxes?
Falling behind on your business’s taxes can be stressful, so it’s important to understand the consequences and the steps you can take to resolve the issue.
The Australian Taxation Office (ATO) has various measures to help businesses manage their tax debts. The longer you delay addressing your debt, the more severe the repercussions become.
Immediate consequences
Occupation shortages starting to ease
|
Why you should keep your business and personal finances separate
|
ATO revs up debt collection from small businesses
|
The ATO is revving up attempts to collect unpaid tax debt from small businesses dating back to the pandemic. Softer attempts to encourage compliance, such as SMSes and letter reminders, appear to be falling on the deaf ears of some small business owners. The ATO will now take stronger action that includes: |
RBA cash rate cut a relief for businesses
|