October 2016 Edition

In this edition:

Welcome

Small Business Mental Health Initiative

Further superannuation legislation released

Aged, disability and home care with DRC Care Solutions

As stress, depression or anxiety can not only impact your quality of life but your ability to run your business, it is important to have a mentally healthy work place. The Small Business Mental Health Initiative aims to provide some relief to relevant small business owners by assisting with the timing of payments, obligations and refunds.

Tailored payment plans may be the best option if you are unable to pay off the liability up-front. This can be set up online on the ATO website, via a call to the ATO or contact us to assist.

In some circumstances you may be apply for a Lodgment and Payment Deferral for any of your due returns or reports. Once again contact us to apply for this concession.

If you think your circumstances put you under serious financial hardship you can may be eligible for Priority Processing. This is available both before and after lodgment of your tax return and may result in your tax refund being paid earlier. However, if you intend to claim serious financial hardship and have an outstanding liability with another government department, such as the Department of Human Services (Centrelink or Child Support), you should also contact them to discuss your circumstances.

Also, an application for priority processing due to serious financial hardship doesn't guarantee a refund and could result in a requirement to pay outstanding liabilities with us or other government departments earlier.

In some circumstances where payment of ATO liabilities will result in the inability to provide food, accommodation, clothing, medical treatment, education or other necessities for yourself or family the ATO may release your tax debt. This, however is fairly uncommon as Income, Asset and other test will need to be passed before approval.

In any event please contact our dedicated staff and they should be able to best guide you and assist you where possible.