Business Health Check

Active business management

Business Health Check photo

Business Health Check

Active business management

Business Health Check photo

Some of the best businesses are, in reality, time bombs waiting to happen, if and when the downturn or a crisis hits.

A simple regular health check can identify areas likely to put your business and personal assets at risk in the event of a business crisis.

 

Our approach is different. Our goal is to keep it simple and easy for the director to focus on the running of his business, safe in the knowledge that someone else is making sure his business is compliant.

If you’re worried and want fast action you can contact Cheryl now. Your initial consultation is free and without obligation.

Portrait photo of Cheryl Stainsby

Are you up to date with the latest tax and industry regulations?

‘if you don’t know what your obligations are, how can you comply with them? Having a business health check is like going to your doctor for a check up. If your blood pressure is high something can be done to prevent the stroke or the heart attack.’
Cheryl

Obligations to the ATO

Did you know that the director of a company can be held personally liable for unpaid PAYG (group tax) if the companies BAS is not lodged on time? How sure are you that your BAS has been lodged on time? If you’re not sure call us to discuss a regular health check.

Single Touch Payroll

Single Touch Payroll became compulsory for every employer on the 1st of July 2019. Are you compliant? If not, give us a call; we can help you make sure you are.

Your Questions Answered

The ATO have the ability to hold the director of a company personally liable for the unpaid PAYG component of the company’s Tax obligations.

If your Business Activity Statement or Instalment Activity Statement is lodged on time, but not paid, the ATO can issue a notice called a Remittable Director Penalty Notice.

This notice gives the Company 21 days to either:

  1. Pay the outstanding liability

  2. Enter into a satisfactory payment arrangement or

  3. Put the company in Voluntary Administration or Liquidation.

If the BAS or IAS is not lodged within 3 months of the due lodgement date, and not paid, the ATO can issue a Lock Down Director Penalty Notice which holds the director personally liable for the debt unless it is paid in full within 21 days of the notice being issued.

The Director cannot avoid the debt by appointing a liquidator or administrator to the company.

The Penalties for non-payment of Superannuation are severe and can be up to 200% of the primary debt.

Directors can be held personally liable for non-payment of the Superannuation Guarantee amount plus penalties, and there are provisions for criminal proceedings to be instigated against directors who do not pay Superannuation.

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You can call us during office hours on
1300 851 775