Small business owners on Queensland’s Sunshine Coast are invited to attend free one-on-one information sessions, run by the Australian Taxation Office (ATO), to assist them in staying on track with tax and super obligations.
Business owners are being invited to weigh in on how the R&D Tax Credit will be administered, with the tax now open for public consultation.
Figures recently released by National Credit Insurance (Brokers) showed that the number of bad debt claims in February 2011 is almost 80% higher than claims for the previous month. The spike has caused cash flow finance specialist Oxford Funding to warn businesses to keep an eye on their debtors.
Small businesses are allegedly using the Australian Taxation Office as a bank, using the ATO as a psuedo-lender by putting off tax liabilities using payment agreements in order to pay other commitments first.
Directors of struggling companies need to keep a tight rein on payments to the Australian Tax Office because of personal liability for the debt if the company does not pay or becomes insolvent.
The Australian Taxation Office (ATO) has revealed today that it has small business in its sights in it’s 2010-11 compliance program.
The average tax deduction claimed by an individual taxpayer is $3,311 according to the latest statistics from the Australian Taxation Office (ATO).
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