A Strategic Update on support services, software updates and disaster relief from the ATO

Small Biz Matters

Small Biz Matters – a half hour program each week where you can work ON your business rather than IN it. with Alexi Boyd, broadcaster, advocate and small business owner. Date: 25 February 2020

The small business community has been in turmoil in recent months. Between extreme weather events across the country, the bushfire devastation and the fallout for surrounding communities and now the Coronavirus and the impact on imports and exports there would be few businesses and humans behind them, unaffected.

Well, help is at hand. Whilst other agencies can be slow to act and have any impact, the ATO, thanks to it’s high level access to our data and real time information on businesses, can act quickly. With extended deadlines, payment plans and extended support the administrators of our tax system are doing their best to keep you IN business.

Here to update us on the supports which are ALREADY in place for small business and recent improvements to the way we engage with them is the ATO’s Deputy Commissioner Andrew Watson.

Welcome to the show Andrew.

Topics we’ll be covering:

• The ongoing bushfires and natural disasters will and have had an impact on small businesses – what advice do you have for them?
  • Ongoing support the ATO offers for natural disasters, and that we apply auto two month deferral to postcodes (clients should call if they’re unsure)
  • In fact it is an whole of government approach to support, incl grants, as well as the deferrals already in place.
  • How long will this support be in place?
• Software update: The old fashioned and clumsy AUSkey is retiring and being replaced by MyGovID and RAM – what ARE these and why is it happening?
  • The WHEN: End of March deadline - is this a real deadline and what happens if we fail to meet the deadline. Are we locked out?
  • The WHY this is happening - what are you being asked from queries and what’s the response?
  • The WHO - does this apply to everyone?
  • Real life examples on what the improvements will likely be for businesses and the ATO
• Single Touch Payroll update - Most small businesses will be well underway, but for those who aren’t, what can be done?
  • Reminder that businesses have/are transitioned, and to call us if they need assistance
  • That this year will be the first time some businesses lodge the annual return this way, what will change at EOFY for reporting and documents to staff?
  • What if I’m the only employee? Does this apply to me?
• E-Invoicing – what is it, and what does this mean for small businesses?
  • Reduced payment times, cost to produce
  • When is this likely to impact small business?
• Recognising your business’ success - When you see a good business thriving, what are some of the hallmarks of that?
• Running a small business can be stressful, what are your suggestions to small business owners listening to this?
  • How to get help from the ATO and other government organisations
  • Signing up to newsletter
  • Extended hours for phone support
  • Phone-back option
  • Payment plans

To find out more go to their website: www.ato.gov.au