Your Business Angels - Non-lodgement Getting the accounts up to date

Non-lodgement Getting the accounts up to date

Getting the accounts completed means the pressure is gone from the ATO. We can lodge and negotiate a deal, and you get to see how the business is going, which will allow you to make improvements and start thinking about new goals.

Non – lodgement fees – ouch!

There are several risks in not lodging BAS or Tax Returns. There is an urban myth that if you don’t lodge then the tax office can’t see your debt.

There are 2 things that can happen that can be rather nasty for you if you don’t lodge tax, and that is that you can be summoned for non-lodgement (which is a criminal offence) and the tax office can do their own calculations and come up with a figure that’s hard to challenge.

You will normally get a lot of warnings that the tax office wants lodgements. You may get letters and phone calls, and this is the stage we need to get on and complete your accounts.

In getting your accounts up to date we:

• See how much work needs to be done and will give you a fixed fee that includes dealing with the Australian Taxation Office.
• Contact the Australian Taxation Office and say we have the job and give them an estimate of when we will lodge. In nearly all cases they are prepared to wait and as long as we update them of the progress the ATO is very reasonable.
• When the accounts are completed, it isn’t just a case of getting you to sign and we lodge. We meet with you, show you how much tax there will be to pay, discuss your case and see if there are more legal deductions. T Then we make a plan for lodgement, including what agreement we will make – and we may discuss and plan finance and then lodge.
• When we lodge, we will follow through on the plan we have made with you.

Over the years we have specialised in getting accounts completed. All sorts of disasters happen in peoples lives and we understand, and know how to complete accurate accounts, even if we are starting in a mess, usually not the makings of our clients.

Need the accounts brought up to date quickly? Need to have the relationship with the ATO managed? Give us a call and hear how we can help you.