{"id":557,"date":"2009-01-28T09:39:49","date_gmt":"2009-01-27T23:39:49","guid":{"rendered":"http:\/\/wordconstructions.com.au\/blog\/?p=557"},"modified":"2009-01-28T12:57:32","modified_gmt":"2009-01-28T02:57:32","slug":"small-business-tax-help","status":"publish","type":"post","link":"https:\/\/www.wordconstructions.com.au\/blog\/2009\/01\/small-business-tax-help\/","title":{"rendered":"Small business tax help"},"content":{"rendered":"

As part of the Government’s attempt to reduce the impact of the global financial situation on Australia, they announced some cashflow relief for small businesses<\/a>. It was announced in December but applies to payments due, in the main, at the end of February (or late January for some.)<\/p>\n

In short, if you have a PAYG installment due for the October to December quarter, you only have to pay 80% of the amount requested by the ATO.<\/p>\n

However, it is very important to note that the 20% discount only applies to payments due now – the actual amount of tax you need to pay for the year is not being reduced. If you pay less now, you will have to pay the remaining 20% as part of your annual tax return.<\/p>\n

So in choosing whether or not to take the discount this month, remember<\/p>\n