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Guide to managing your tax debt

 
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Businesses

We know that running a business can be complicated and that it can be especially difficult for small businesses to stay on track. Our research shows that businesses are more likely to fall into debt if they:

  • do not keep their GST and income tax payments separate from their other finances
  • have difficulty managing their cash flow and cannot predict monthly income and expenses
  • do not update their business records frequently.

We want it to be as easy and cheap as possible for you to pay your tax, so we offer a range of online and personal services to help businesses.

If you find it difficult to manage your financial affairs, you might like to arrange one of our business assistance visits. You could also visit a financial adviser or accountant for advice. You can obtain free advice from one of the government-funded financial counsellors across Australia.

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Visit the Financial Counselling Australia (FCA) website to find a counsellor in your area.

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Measures to assist small business

We have measures designed to help businesses with an annual turnover of less than $2 million that are struggling to manage their tax payment obligations.

Refer to Help for small businesses experiencing short-term financial difficulties for more information.

Business assistance visits

We offer a free, confidential, practical support service aimed at keeping your business on track, or helping you get back on track. It gives you access to experienced tax officers who can answer your questions and help you get on top of your tax issues, including your payment obligations.

In addition to phone support, we offer on-site visits. We can organise a visit for a time and place that suits you. This visit is free and tailored to your needs. During the visit we can also demonstrate our online tools and calculators, and advise on the commercial tax software that meets our requirements.

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For more information:

Any information you share with us during an on-site visit is completely confidential. Our focus is to help you manage your tax, not look for evidence to conduct an audit.

Business seminars and workshops

We run a range of free seminars and workshops on tax basics, record keeping and employer essentials.

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Refer to Free tax support or contact us for more information or to register for a seminar.

Tax calendar

If you are a sole trader or run a small business, you might find our tax calendar useful. This is an easy-to-use computer tool that will help you plan and manage your tax obligations and give you timely lodgment and payment reminders.

This free electronic calendar can be set up to record all the dates you need to know throughout the year, such as when to pay your employees' superannuation and lodge your activity statements.

This tool can also:

  • set up reminders
  • record notes and appointments
  • be updated to adapt to changing business structures
  • print a yearly planner showing your tax obligations and due dates.

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Refer to Your small business tax calendar for more information or to download the calendar.

Business Portal

You can interact with us online using our Business Portal. It's secure and easy to use with step-by-step instructions. You can lodge your activity statement online and access your running balance account, including all penalties and general interest charge (GIC).

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For more information refer to:

Other information for businesses

We have a range of information to assist businesses to understand and manage their tax and super obligations.

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For more information, refer to:

Sections within How to avoid a tax debt

Last Modified: Friday, 4 January 2013

 
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