On 17 October 2019, Second Commissioner, Andrew Mills, addressed the Tax Institute’s 2019 Tasmanian State Convention outlining what the ATO is doing to help support small businesses manage their competing demands. Some initiatives include:
- a new program of work at the ATO called ‘Better as usual’ – an ATO-wide initiative to continually provide a better level of service
- improvements to the ATO’s dispute resolution process, including the small business independent review pilot
- the Dispute Assist program, specifically designed to support taxpayers going through exceptional circumstances, for example sudden illness or family breakdown.
3 attributes in a successful small business
The ATO sees 3 key attributes in successful businesses:
- Effective cash flow management
- Digital readiness
- Having a professional adviser.
As a regulator, the ATO helps businesses maintain those behaviours.
Read our complete November 2019 Taxwise Business Newsletter here