Long gone are the days when taxes were collected to fund the nation’s military forces to defend the country in support of the monarch.
Taxation is a big revenue generator, and the Australian Tax Office is Big Business! In their continual and relentless campaign to squeeze every cent from the honest, hardworking Aussie battler, they seem to have access to all our records. They cross check databases from union memberships, trades licences, shopping centre managements, social security records, Land records, and the list goes on. Where will they stop? They won’t! Anywhere that has computer records seems to be “open slather” to the ATO.
They used to have some flexibility with late payments, but now the rottweilers are out in full force.
Over the past twelve months the ATO has become increasingly aggressive with imposing late lodgement and late payment penaties.
We all want to pay the Australian Taxation Office the least possible amount of money, and one way is to ensure you lodge your Businesss Activity Statements etc on time to avoid these penalties.
[We are NOT Tax advisers, so you should contact your Registered Tax Agent or Accountant for any taxation matters]
Until Next time,
The Beancounter, www.yo2go.com
1st Quarter: 28/10/10
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