The ATO has issued that many small to medium sized businesses in 2016/2017 are at risk of bankruptcy which will destroy thousands of small to medium sized businesses within Australia.
Unless the Turnbull Government reverses this damaging arrangement, business owners have until June 30th, 2017 to get their affairs in order. This in turn will require small business owners to complete back-end paperwork rather than concentrating on running their businesses.
“It has been quoted that from 1st July 2017, the Australian Tax Office has been granted access by the Federal Government, by an amendment to the Privacy Act, to access Credit Reporting Bureaus client files, to list credit infringements where an alleged tax debt amount is >$10,000 and older than 90 days. This applies to companies and individuals that carry an Australian Business Number (ABN)”
If you would like to obtain assistance to get your affairs in order and find out more information, then do not hesitate to contact me anytime via email, PM or phone or via my website.
Contact me today.
Maree’s Mobile Bookkeeping
M: 0429 363 047