June 2009

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Small business tax debts: ATO offers help 18/06/2009

The ATO has announced new measures to help businesses with an annual turnover of less than $2 million that are struggling to manage their tax debts in the current economic climate. The Commissioner of Taxation has announced that the ATO is offering 12 month General Interest Charge (GIC) free payment arrangements (until 30 June 2010) and deferring for up to two months the payment date for activity statements.
The Commissioner of Taxation said the ATO does not want the GIC or temporary cash flow problems to be the deciding factors between a business surviving and being able to meet its tax and superannuation obligations or becoming insolvent.
He said businesses need to contact the ATO as early as possible on 13 11 42 to discuss their circumstances so it can negotiate a sustainable interest free payment arrangement.
Contact Rogerson Kenny Business Accountants Melbourne for more information.

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Hanging Tough in difficult times 09/06/2009

Click Here to visit an interesting article on "Hanging Tough" in difficult financial times.

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