Outstanding tax debts? ATO warns about disclosure to CRAs The ATO has shifted its focus from providing assistance with tax through the pandemic to now re-establishing the culture of businesses paying their tax debts on time. Beginning from July 2023, The ATO has issued notices of intent to disclose business tax debts of more than 22,000 businesses with a tax debt of at least $100,000 that is overdue by more than 90 days, to credit rating agencies (CRAs). Disclosure of business tax debts The
Your upcoming tax calendar for November and December With the year end approaching and businesses preparing for the holiday season it is important to keep your tax obligations in check and managing your workflow keeping the Christmas shutdown periods in mind. In order for you to be across your tax obligations, below are the key compliance dates for November and December 2023. Make sure these lodgments are up to date to avoid any non-compliance action, interest and penalties. If you have questions or
Writing a business plan? What elements should you include, and what are the main considerations to think about? A detailed business plan will generally include: – A clear direction for the business – a well-crafted business plan gives you a defined path to follow, outlining the company’s purpose, goals and strategies. – An overview of your financial strategy – your plan will include revenue projections, expense forecasts and funding requirements. This financial guidance gives you the foundations for mapping out your budgeting, cashflow and
