Your Business Angels -
ATO in these troubled times
Please read this, as it will affect you.
The end of the financial year has many moving parts, and this blog informs you of what to expect as the tax team works through a pile of work for you, our clients. Should we start with the happy new year’s stuff? It’s the end of the financial year, and no accountants were out partying […]
What’s the best way for a business to deal with inflation?
Good Morning – all our clients would now understand that inflation is a part of our economy and business life we need to manage. The following we know can help you. The best way to use the below “inflation hacks” is to go through and pick out 3 to 4 things that you can easily do […]
Throwing money at a tax debt isn’t a strategy; it’s just plain stupid. A tax debt says there is a problem here; get that fixed first
Our company has spent years negotiating with the ATO. If they hear a story to be reasonable and they think there is a plan in place – then they give time. (If they don’t phone back in and talk to a different case manager) Tax debt doesn’t mean a big rush to an insolvency firm […]
Where is the most dangerous place to live on earth? Anyone for a 6-day tour of Mogadishu?
I’m trying to tie in my cleaner, a trip to Mogadishu and comments about danger here in Australia. To start with, my cleaner didn’t come today because she said I didn’t pay her – which is true because I didn’t, but her invoice didn’t reach me – could be a lame excuse, but I didn’t see it. […]
Heads up – a tax debt can screw your credit rating
It’s official ATO tax default data is now included in Equifax commercial credit reports. Ok, the ATO has been “softly, softly” in collecting tax debt. If you haven’t arranged to pay down debt or do something else (with Our Help), you can now be punished by having your credit rating blown – and that could […]
Guessing what the taxman will do
The ATO will be robust in collecting this money; our belief is its gloves off after Australia Day 2022. Your Business Angels will blog a series of articles about what the taxman will do this year, how we will help those who have a tax debt as well push what we consider the best ways […]
Name ten sexy things about seeing your accountant – I’m waiting – no? OK, name one!
Probably most people see the accountant as the person who tells you how much tax you must pay. “Here is your BAS, now pay it – here is your company or personal returns, now pay it”. To give the accountants their dues, there is often a lot to get to that point. The guide (just […]
Message to Client 1 – Checking up on you
Closing more tax loopholes As the Australian Taxation Authority find small and large ways people avoid declaring their income or fudging expenses, then they create law that allows then to peek into things by having the taxpayer report to them directly on income or expenses. Our attitude is that if we and our clients are […]
ATO Payment plan
It’s quite usual for most businesses to have at some stage ATO payment plans. This is the case for a number of our clients. In the current environment we have a number of options, which can give financial relief for those on a payment plan with the ATO. We can cancel the current payment arrangement […]
Australian Taxation Office Assistance with tax debt
This certainly helps. As we have been telling all our clients and was the feature of week 2 of our plan, that we need to negotiate the deferment of tax payments in whatever way we can so that you can harbour the money as no one knows and can guess what the future looks likes. The […]
Accounts a mess – not seeing a chance of getting any of the stimulus package
Maybe you have put your name down, registered, but what happens when you have no records of trading because your accounts are a mess and you are behind? You were always meaning to get the accounts brought up to date, lodge BAS and do your tax returns. You were always a bit too busy and […]