When running a business, it’s very easy to look the other way when problems creep up. From struggling to cope with and handle taxation problems to avoiding cash flow woes, businesses love to look the other way. Putting your head in the sand is a very common term for this – essentially, just ignoring what is coming and looking the other way.
Rather than running your business into ruin by avoiding your tax and financial obligations, though, another way exists. The Australian Taxation Office is a very useful body for making sure you can get assistance on managing business compliance, taxation and meeting all regulations. It’s very hard to work it all out on your own, but the ATO removes the need to feel so isolated.
With that help waiting for you, you can avoid having to put your head into the sand and ignore the problems that failing to act will provide.
In my personal experience, they’ve only ever been helpful, open and courteous to me. They don’t threaten you or make you feel bad about your decisions beforehand; the just help you make tomorrow easier than today was. Constant communication with the ATO is essential to handling your taxation troubles.
Get Your Tax Affairs in Order with Professional Taxation Assistance!
Sadly, many business owners want to avoid paying tax and doing their bit for the countries development, especially GST despite being happy to take a whopping 10% of their income for the past months depending on when you lodged your BAS.
Therefore, it’s paramount that you can set aside a weekly fund, calculated with the ATO alongside you, to meet your obligations. This helps you to correct your cash flow issues as you start to budget better, while making sure you can cope with and handle the payments that you need to make when they are needed.
It’s thanks to this that you can then get into the act of regular, active bookkeeping. Many businesses miss the initial organization they need to handle taxation, and do nothing about it. With the ATO providing assistance and also taxation software like Xero Accountancy you can begin to turn around a negative and damaging reputation.
Whether you hire a tax professional or use accountancy software to do it on your own is up to you. However, the time to stop turning a blind idea to your tax troubles is now.
So, take the right steps to improving your business today and consider looking at hiring a tax professional like Balance Books to help you improve your attitude towards taxation!
Providing free bookkeeping health checks, high conversions and easy set-ups, Balance Books can be the solution you need to start making smart decisions regarding your taxation. In time, we’ll help you understand and implement features to help your business run better than ever.
Disclaimer: The advice contained in Balance Books blogs and newsletters is of a general nature only and may not apply to your individual business circumstances. For specific advice relating to your situation, please contact your Accountant or other professional adviser to discuss further.