Finding It Hard To Meet Your Tax Obligations?

The Commonwealth penalty unit amount will increase to $275 from 1 January 2023 for infringements on or after that date. Failure to meet a tax obligation, like not lodging on time, may result in a penalty being applied.

We understand there may be occasions when businesses experience financial difficulties and can’t pay on time. Even if you can’t pay, it’s still important to lodge on time.

Whatever your situation, talk to us early so we can work with you to find a solution. We want to understand your circumstances so we can provide the right advice and the right support tools when you need them most.

For more information, visit ato.gov.au/cantlodgeorpay.

Your BAS agent or tax professional can provide you with tailored advice.

Source: ATO