News
Small businesses owing more to the ATO
The Australian Taxation Office (ATO) annual report last year revealed the growing level of debt owed to the ATO. The report revealed that collectible debt rose to almost $24 billion in the last financial year.
The Australian Taxation Office (ATO) annual report last year revealed the growing level of debt owed to the ATO. The report revealed that collectible debt rose to almost $24 billion in the last financial year.
The overall collectible debt has risen from $20.9 billion in 2016-17 to $23.7 billion in 2018. The majority is owed by small business.
The annual report also revealed that the ATO collected more company tax from large corporations that had higher profits, which enabled it to beat its budgeted revenue target.
Date published 10 Jan 2019 | Last updated 11 Jan 2019
Choose the right accounting firm for you
Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?
Local business focus
We specialise in supporting independent businesses. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.
Come and meet us
We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our multiple locations, meet with us online through video call software, or talk to us by telephone.
Switching is simple
Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.