The Sensis Business Index shows more than a quarter (26%) of Australian small and medium businesses (SMBs) believe Federal Government policies are working against them. SMB confidence in the Australian economy has nosedived since Q1 2018, with 48% now believing it is at a standstill and 39% believing it is actively slowing. Thirty five percent Read More…
Reprieve for small firms targeted by ATO
Mon 4 November 2019 - 9:30 amNews
The ATO’s heavy-handed manner of dealing with small businesses that allegedly owe taxes will be overhauled under a new scheme, according to The Australian.
The Australian Taxation Office debt recovery system is expected to undergo a shake-up under a new scheme.
Compensation owed to small businesses and taxpayers who have been wrongly or unfairly pursued will be paid in a more expeditious manner, The Australian reports.
In addition, the way any debt is collected will be overhauled, with the ATO accused of being heavy-handed in its handling of these cases.
Recent statistics show an increase in the number of complaints against the ATO and the government says it will adopt all 12 recommendations of a review of the treatment of small business tax cases.
The scheme would make it easier for small businesses to apply for compensation and ensure improved oversight of ATO cases.
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