While the ATO knows most small businesses try to report correctly, it understands that mistakes can happen. The ATO advises taxpayers that it is important to get the following ‘basics’ right:

-using digital tools and business software to help track and streamline processes to increase the efficiency of their business;

–keeping accurate and complete records, which will help taxpayers meet their tax and super obligations and make lodging easier; and

–getting the right advice from trusted resources such as their registered tax professional or the ATO’s website, whichcan help taxpayers navigate change and uncertainty at any stage of the business life cycle.

If you have any questions or would like to speak to one of our professional business and tax advisors, please contact our office on (08) 9392 7600 to make a booking or click here.

With three offices across Western Australia and over 20 years of experience, Acclaim Accounting is a dynamic team of highly trained and skilled individuals committed to providing innovative and effective advice, excellent service and maintaining only the highest standards in ethical professional practice