A tax tool to help your business
This program from the Australian Taxation Office (ATO) is designed to help small businesses check whether their business practices are helping them meet their tax obligations. Tax practitioners, business advisors and bookkeepers will find this program useful in helping your clients to identify where their business can make improvements to become tax-ready.
Is your business tax-ready? builds a profile of a business from the answers to a series of questions. It develops a printable evaluation report with information on what the business could do to improve their tax-related business practices to become tax-ready.
Is your business tax-ready? will:
- provide information on characteristics and practices that are common in the operation of a successful business
- identify areas of your business where improvements could be made
- identify how you can improve your ability to meet your tax obligations
- provide a report on how your current practices compare to recommended tax- related practices
- outline what might happen when you're not complying with your tax obligations
- advise you when your business practices reach the standard required to help you meet your tax obligations.
If you run more than one business, you can set up multiple business profiles to evaluate the practices of each business.
You can evaluate business practices at any stage of the business life-cycle - from when you're thinking about starting a business, through to selling or closing your business down.
Download
Is your business tax-ready? is a free download available here:
System requirements and supported platforms:
- Windows 7
- Windows Vista
- Windows XP
To provide feedback about Is your business tax-ready?, email us at TaxReady@ato.gov.au.
You can register to be notified when Is your business tax-ready? is updated by sending an email to us at TaxReady@ato.gov.au with your name, Australian business number (ABN), and contact details.
Who can use Is your business tax-ready?
Is your business tax-ready? was designed for use by small businesses, including sole traders, with turnovers of below $2 million.
Is your business tax-ready? is not intended for:
- businesses with more than $2 million turnover
- consolidated groups - a consolidated group consists of a head company and subsidiary members, that are wholly owned by the head company
- GST groups - a GST group consists of two or more business entities that operate as a single business for GST purposes.
Last Modified: Tuesday, 11 October 2011