Does your Small Business have overdue Taxation Returns, Business Activity Statements or Fringe Benefits Taxation Returns with the ATO?
On 9 May 2023 as part of the 2023/24 Budget the government announced a lodgment penalty amnesty program for small businesses to encourage them to re-engage with the tax system and get their obligations up-to-date.
The amnesty applies to overdue income tax returns, business activity statements and fringe benefits tax returns that were due between 1 December 2019 and 28 February 2022.
If eligible overdue forms are lodged between 1 June 2023 and 31 December 2023, any failure to lodge penalty applying to the late lodgment will be remitted. No action is required to request a remission.
To be eligible for the amnesty the small business must have had an annual turnover of less than $10 million at the time the original lodgment was due.
This does not apply to privately owned groups, or individuals controlling over $5 million of net wealth.
Please contact our office on 08 9387 5637 if you would like more information in regards to this amnesty.
Mark has helped us immensely to understand our financial position, these guys are not just tax agents, they fully understand all aspects of business.
Daniel and his team at Tactica Partners have been taking care of me, my family and my company's accounting needs and I highly recommend him and the team. They've made getting tax done so easy and Daniel is an amazing accountant and extremely thorough and helpful.
…very professional, well prepared and organised. They have given us great business and personal tax advice, offered us good business insights, and more general personal planning advice too.
They continually deliver on all aspects of their service offering. …..we appreciate the substantial assistance they have provided in managing our bookkeeping function and providing proactive tax and accounting advice. We value their ongoing input in helping us strive for continual improvement on our reporting processes and delivery of timely information to our US office.
At last! An accountant who has "not" had a totally successful charisma bypass operation! Sensible and knowledgeable advice. Excellent!
Mark H and Helen have given us wonderful support for our family and business accounting for several years now. When I got my first invoice I grumbled……. not now. We can see the savings and feel the security for ourselves.