DOES YOUR BUSINESS OWE THE ATO MONEY BECAUSE OF THE IMPACT OF COVID-19?

 

The economic impacts of COVID-19 have been especially harsh on small to medium businesses.  The good news is that generic support is available, including the government initiatives largely administered through the ATO https://www.ato.gov.au/General/Covid-19/ .There are also information resources provided by the accounting bodies, governments and business organisations.

Having an existing or imminent debt will raise additional stress.  While information and the ATO’s supportive approach are of great assistance, the crucial interaction with the ATO about your debt is something that your business must deal with.  Engaging an accountant to do this on your behalf can be expensive, whilst doing it yourself can be daunting and uncomfortable.   

 

WHY DEALING WITH THE ATO CAN BE DIFFICULT

Approaching the ATO about your business debt may be daunting for a range of reasons:

  • This is the first time that your business has ever made a direct approach to the ATO
  • You have had a poor experience with the ATO in the past
  • Someone else has always dealt with the ATO on behalf of the business (e.g. your accountant, who you may choose not to use.)
  • While extensive ATO guidance on COVID-19 is available, many people find it difficult to understand. It is changing often and the communication may not always be clear.
  • You may be unsure of the information the ATO requires to make the arrangement.

If you identify with any of these reasons, talk to us about how to deal with the ATO directly.    

 

DEAL WITH THE ATO YOURSELF, USING OUR EXPERT GUIDANCE 

Deayton Tax Consulting (DTC) is offering expert guidance and support for small to medium enterprises, in dealing with their outstanding debts. 

With our considerable experience, we can guide your business through the necessary steps to secure a suitable payment arrangement.  We can help you to produce your business ‘script’, containing all the information you will need when dealing directly with the ATO, whether in writing, or over the phone.   You will save time, have greater confidence in obtaining a suitable outcome, and the ATO will also appreciate your preparedness making the interaction easier.

 

DTC can also provide further support if required, to assist in obtaining a suitable debt arrangement. 

To ensure privacy, and to preserve the ongoing relationship that a business may have with their current accountant/tax agent there are several things that we will not do. 

  1. DTC does not want to know a business’ TFN or ABN or any other government identifier.
  2. We definitely do not want to upset the relationship between a business and their existing tax advisor; the business will still require the agent to lodge their income tax return or prepare a BAS.

Deayton Tax Consulting is offering this support as a one-off service, for a low nominal fee and no wasting of your time as your input leads to a direct interaction with the ATO.  Any profits from this will be donated to. It is something that we do very well, but it is not our core business.  We simply wish to help those in real need of assistance in these testing times.

 

If this is of interest link to COVID-19 Launch page.

THE OUTCOMES OF COVID-19 

Contact us today for a FREE 30 minute consultation with one of our Senior Consultants.

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