The Australian Tax Office is helping small businesses get tax ready by developing an easy to use program which profiles a business to help them improve their tax related business practices.
The ‘Is your business tax-ready’ program has been developed with small businesses and sole traders in mind, with turnovers of below $2 million. The free to use program helps small businesses meet their tax obligations.
The program will help businesses indentify areas of the business where improvements can be made, how they can improve their ability to meet tax obligations along with advising when business practices reach the standard required to help meet tax obligations.
A free download is available on the ATO website.