‘Don’t bury your head in the sand’: Businesses urged on early engagement to weather pandemic impact
With the new Omicron variant providing renewed uncertainty, businesses that are facing (or soon may be in) financial distress have been urged to proactively engage with their accountant and the ATO now, in order to maximise their chances of recovery.
CA ANZ business reform leader, Karen McWilliams FCA, said businesses may be concerned they do not have the cash flow to pay taxes right now and may be contemplating not lodging their returns to avoid these discussions, but that is a reason to engage with the ATO now, not ignore or avoid them.
Read more at Accountants Daily
