2020 has been an incredibly tough year, and as it draws to a close, we are all hoping that 2021 brings better times.
From the ongoing drought, to bushfires, floods and of course the impacts of COVID-19, small businesses have never had it tougher. As the challenges of 2020 continue to evolve, we understand many small businesses continue to deal with changes in their circumstances and ongoing uncertainty. At the Australian Taxation Office, we’re here to support the small business community through these difficult times.
As we reach the end of 2020, it’s important that small businesses continue to do what they can to stay on top of their tax and super obligations. What you need to do will be different depending on your circumstances, whether you’ve had to rebuild your business, have made a loss for the first time, had to pause or change the way you operate, or have made the difficult decision to close permanently. Whatever your situation, we encourage you to contact us early as we have a range of options to support you.