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  • Help to get your business back on track

    Government imposed restrictions and social distancing measures may have caused a reduction in customers and sales, requiring businesses to adapt to a different way of operating and/or needing to temporarily close.

    Changes to your business operations or premises

    To remain viable, some small businesses have changed the way they provide their customers with products and services, such as hospitality businesses providing takeaway options rather than dine in or retail businesses shifting to online selling and delivery.

    If your business has had to change how it operates you may want to check the income you need to report and the deductions you can claim.

    If you have had to modify your business premises such as creating barriers or installing walls, you will be able to claim a deduction relating to the capital expenditure.

    Even if you have adapted your business to work in a different way, you may still find that your business is experiencing a loss for the first time. It is important that you understand how these losses can be reported and managed.

    Keeping up to date and payment options

    Making sure your tax obligations are up to date is an important step towards the recovery of your business, this includes lodging your income tax return and business activity statements to enable you to claim all deductions available to you.

    If you find that you are having difficulties with payment there may be payment options available to you. In certain circumstances, you may be able to apply for a deferral of lodgment or payment.

      Last modified: 15 Apr 2021QC 63376