ATO help for small businesses experiencing short-term financial difficulties

The ATO understands that small businesses can experience short-term financial difficulties due to challenging business conditions or unexpected events such as natural disasters. The ATO offers help to viable businesses having trouble meeting their tax payment obligations due to such short-term difficulties.

 This help includes:

• flexible payment arrangements that align with cash flow
• remission of general interest charge (GIC) where appropriate.
• GIC -Free payment arranged for activity statement debts.

In some cases the ATO will offer payment arrangements for activity statement debts free of GIC for up to 12 months. These arrangements are aimed at helping small businesses that have a good history of meeting their tax lodgement and payment obligations but are experiencing short-term financial difficulties.

It is always better to talk to the tax office when you are aware of the difficulties rather than when they are chasing you for lodgement or payment - Contact H&R Block if you need assistance.