Federal budget tax break: ATO pledges tax amnesty for small businesses | Englishheadline


The federal budget has delivered a tax break for certain Australian businesses who have fallen behind on their tax returns, as the ATO delivers an amnesty and deadline, says ATO Small Business Deputy Commissioner Will Day

“The amnesty relates to outstanding tax and business activity statement lodgements relating to the period of the 1st of December 2019 through to the end of February 2020,” Mr Day told Englishheadline Business Editor Ross Greenwood.

“That obviously covers the period of the national bushfire emergencies, as well as the peak of the Covid-19 period.

“Under the amnesty, small businesses still have to lodge but when they do so, if they do so between the First of June this year and the end of the calendar year – they will automatically wave any failure to lodge any penalties.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

To Top
%d bloggers like this: