Whether your client is running a business or is just an individual trying to make ends meet, there is nothing worse for them than to find they have a tax debt owing to the ATO, which most likely will also be accruing a general interest charge and perhaps even a shortfall interest charge.
The Australian tax system operates under a system of self-assessment, and this applies regardless of the type of tax being assessed, whether that is GST, FBT or income tax. However even with the guidance available from tax professionals, it is not unheard of for taxpayers to still face the prospect of being saddled with a tax debt that’s still on hand long after its due date. Readmore
