Additional ATO support during COVID-19

The ATO is providing additional support to taxpayers having difficulty meeting their tax and superannuation guarantee charge obligations for employees because of COVID-19.

Available support includes the following:

• Lodgment or payment support options – for example, payment plans or remitting interest and penalties. 
• Varying PAYG instalments – The ATO will not apply penalties or charge interest on varied instalments that relate to the 2022 income year where taxpayers have taken reasonable care to estimate their end of year tax liability.
• Moving from quarterly to monthly GST reporting for quicker access to refunds.
• Applying for administrative relief for Division 7A minimum yearly repayments.

Editor: If you are struggling with your tax or super obligations, we can assist with identifying your options and apply to the ATO on your behalf.

Don’t know whether it’s good for your business to take advantage of these Covid-19 relief measures? Contact us to arrange for a FREE Business Financial Health Check

Please Note: Many of the comments in this article are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.