- The ATO will force non-compliant small businesses to report GST monthly starting April 1.
- Around 3,500 small businesses will be affected.
- The change is intended to improve compliance and help businesses address past tax obligations.
- A review process is available for businesses that believe they are compliant.
- The ATO will provide information about the review process to affected businesses and their tax professionals.
- The ATO believes monthly reporting reduces the risk of falling behind on tax obligations.
- The ATO is committed to supporting compliant businesses and taking action against those who deliberately disregard their obligations.
- The ATO’s latest compliance action is part of its ‘Getting it right’ campaign.
- The ATO is focusing on income reporting by contractors in certain industries.
- The ATO is also focusing on compliance for small business boost measures.
- The ATO will publish new focus areas quarterly.
Source: accountantsdaily.com.au
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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