For those who are new to business and may be struggling with their financial obligations, the Australian Taxation Office’s (ATO) Business Assistance Program can help.
The Business Assistance Program is a free 12 month phone service for new businesses and offers tailored support on tax, super and GST. The Program involves initial contact by email, followed by three check-in phone calls to see how the business is progressing.
The ATO stated on their website that each check-in phone call is an opportunity for new business owners to “ask questions about your businesses tax and super needs, and to understand how to meet your business obligations.”
The initial contact by email will happen within two business days of submitting the online registration form and involves welcoming new business owners to the Program, with links to useful resources and information.
The first phone check-in takes place three business days after the initial contact to discuss business tax and super needs, as well as other topics such as: GST and ABN registration, record keeping, how to create proper tax invoices, when to charge GST and how to use business websites and apps, such as the ATO app and MyGov.
The second phone check-in takes place four months later and provides the opportunity for new business owners to ask questions on the previous check-in. The second phone check-in will involve discussing BAS, hiring employees, PAYG instalments and super payments.
The third and final phone check-in will happen 12 months after new business owners have registered for the Program, and involves an overview of the previous two check-ins, clarifying information provided in the previous two check-ins, discussions on accessing future support, and the new business owners providing feedback on the Program to the ATO.
More information on the Business Assistance Progam can be found here.
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