The Australian Taxation Office (ATO) is flexing its muscles, initiating an ATO tax audit on small business people in Australia. Three days ago, the ATO commissioner remarked that small businesses in Australia are facing an astronomical $11 billion gap in the taxation system. He acknowledged that small businesses had contributed $72 billion to the tax system, but the ATO wants to
“I WANT EVERYTHING FROM YOU, I MEAN EVERYTHING”
Hence ATO is exercising an audit approach, and yesterday I went to the Waitara Tax Audit Workshop by the ATO, and within the next few months, a person dressed in plain clothes will work in any shop in Hornsby or Inner West Sydney areas, and tell the shop owners they are from ATO, and would then want the shop owners to work with them to answer questions about how they keep recording the sales, how many employees they have, whether they have any over tax returns, why they did not lodge tax returns, and the payroll books.
To me or to any normal person, the whole experience could be very scary, just imagine you opened the door on Monday, and someone pops in and says I am from ATO, I want your cooperation and I want to see this and that, and how you record sale, how your cash register works, and I want to see how many employees you have.
Hence ATO will visit up to 400 businesses in the Hornsby area and will visit 1500 businesses in total.
When an officer from ATO visits you, what EndureGo Tax can help is I would recommend the shop owner to talk to the tax agent, and we then can be involved in the whole process, at least to ensure there is that level of open communication, as we know, not all small business people have the best communications, nor the best people skillset.
At the moment, we are offering an introductory and heavily subsidized program called the tax safe package, which we will offer to new clients, basically, you just need to pay us $250 + GST per year, and the small business people can then ring us every month for up to 20minutes to ask us any questions about their business taxes, and we will not charge anything, and normally the questions would be simple to us, and we should be able to help the clients to resolve the issues on the spot, if we cannot, as the issue is more complicated, we will work with the client to find out the best solution, and we will also provide large discount on the adviser fee as well.