The ATO is providing additional support to taxpayers who may be experiencing difficulty meeting their tax and Superannuation Guarantee charge obligations for employees because of COVID-19.
Among the support measures available are:
Lodgement or payment support options which may include payment plans for remitting interest and penalties.
Opportunity to vary PAYG instalments as 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.
Opportunity to move from quarterly to monthly GST reporting for faster access to refunds.
Administrative relief for Division 7A minimum yearly repayments may available upon application to the ATO.
For more information and assistance with taking up ATO support opportunities please contact Rosenfeld Kant on 02 9375 1200.