Following the government’s economic stimulus package released last week, the ATO has announced a series of administrative measures for businesses experiencing financial difficulty as a result of the coronavirus.
The measures include:
The above measures are not automatic, and affected businesses, or their tax agent, must contact the ATO and request the benefit of one more measures.
Businesses still need to meet their super guarantee obligations for their employees.
If your businesses has been adversely affected by the coronavirus, contact your trusted Nexia Edwards Marshall Advisor, and we can assist with obtaining the benefit of the above measures.
The material contained in this publication is for general information purposes only and does not constitute professional advice or recommendation from Nexia Edwards Marshall. Regarding any situation or circumstance, specific professional advice should be sought on any particular matter by contacting your Nexia Edwards Marshall Adviser.