To assist Australians experiencing financial difficulty as a result of the Coronavirus outbreak, the Australian Taxation Office (ATO) is implementing a number of administrative concessions for businesses.
These measures include:
- The option to defer some income tax and activity statement payments by up to four months
- Allowing businesses that lodge quarterly activity statements to lodge monthly to receive any refunds back quicker
- Option to vary your pay as you go (PAYG) instalments for the March 2020 quarter and receive a refund on instalments paid for the September 2019 and December 2019 quarters
- Remitting interest and penalties charged on tax liabilities after 23 January 2020
- Access to low interest payment plans for existing and ongoing tax liabilities
To take advantage of these measures and receive help tailored to your business’s circumstances, contact the ATO’s Emergency Support Infoline on 1800 806 218. Alternatively, please feel free to contact our office to discuss your options and for us to arrange any of these measures on your behalf.
Click on the below link for further details on the ATO’s website:
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