Being chased for tax debt
It’s not that big, I just can’t seem to manage it.
Here is one of the big problems with tax debt. Just when you think you might be ahead, there is another BAS and then another round of interest, and all you do is chase your tail, and have that sinking feeling.
Here is another letter from the Australian Taxation Office (wonder what colour it is this time) and here is another phone call from them.
But you know, that if you could get your head out of the tax debt problem, you can focus more on getting on with the business and you could change things, but then there is that phone call, “I think they are going to tell me I missed a payment plan and demand the rest”.
Over the years Your Business Angels PTY LTD have helped so many businesses get the grinding of worrying tax debts out of the business.
So often it’s about the organisation and completion of accounts, having a great professional firm like Your Business Angels PTY LTD come up with something sensible in negotiations and implement simple tax payment programs that are different (and legal) and take a massive amount of pressure of businesses.
We look at the road you have traveled so far, what has been the pattern of the tax payments over say, 2 years.
We look at the performance of the business, has growth been eating up the profit, and growth caused the problem?
How do you pay yourself?
Is the structure you run your business under creating a high level of tax (you would be amazed at how much bad information there is around for small businesses and their structure).
We find always a properly implemented home budget helps. (We recently surveyed a group of tradies and found they spend an average of $15,000 a year on takeaway lunch, add tax to that net amount and they were over $20,000 a year for takeaway lunch. I know its small but you would amazed how many tax debts get paid with a change of personal habits.
Give us a call, and meet with us. This pressure of tax debt can, in the end be too much.