ATO tax support and advice for small businesses and individuals

The Australian Taxation Office (ATO) has launched a new campaign providing support for small business owners to understand and comply with their tax, super and registry obligations.

Noting that around half of all businesses fail in the first three years, the campaign provides tools and the key things you need to know and do when starting and running a business. Key tools includes:

• working out if you are running a business and when your tax obligations start
• the tax, super and registration obligations to consider before you start a business
• key obligations of the various business structures
• franching and tax obligations
• using business assets for private purposes
• good business habits
• support for your small business
• managing tax payments
• ATO small business focus areas
• the latest updates on tax, super and risgtry services for small businesses

Disclaimer: This does not purport to be comprehensive or to render legal advice. You should not act based on any information contained in this publication without first obtaining specific professional advice. Consult your legal advisor to determine if this applies to you.