The JobKeeper program officially is now over!
Life is slowly getting back to normal for small business.
Now that Covid is not disrupting our daily lives as much as the Tax Office has now confirmed in various press reports, it will resume pursuing and enforcing debt recovery action. This action, together with ensuring that taxpayers meet their tax return lodgment obligations. This is the start of the ATO to get back to normal after Covid.
The ATO signals the ATO’s approach has begun by sending letters to taxpayers with outstanding lodgments and payments. Clients are finding old debts, no matter how small, are being pursued. Last month the ATO warned everyone that stronger actions would be taken if they failed to do act on their obligations and had refused to discuss their situation with the Australian Tax Office.
From the end of March 2021, where appropriate, the imposition of penalties will resume, and the ATO has indicated that it will case-by-case basis, we will start taking debt and lodgement compliance actions.
Ignoring the ATO request for lodgement and not working with their demands will see harsh penalties and audit action.
We suggest that the party is over, and now is the time to start taking action to manage your affairs. The Team at Gartly Advisory are to help you manage the process, take the fear out of your situation, and help you obtain a positive outcome.