The tax system can be difficult to navigate for small business owners. It is important to understand which taxes apply to your business and what assistance you can receive.
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Dealing with tax and debts
Feeling overwhelmed?
This is a very tough time and it’s understandable if you are experiencing stress and anxiety as a result of the coronavirus outbreak and the impact it has had on your business.
It’s really important to look after yourself right now. Regular exercise, a healthy diet and getting enough sleep is a good start, but sometimes you need more support.
The good news is there is help available if you need it.
It’s OK to not be OK
We know that small businesses are under enormous pressure in this rapidly changing environment.
If you aren’t sleeping, struggling to concentrate or are seeing other signs of anxiety or depression, Beyond Blue has a dedicated COVID-19 Mental Health Support Service including online resources.
Struggling to cope?
Feelings of anxiety are a natural response to a period of uncertainty, like what we are experiencing now in this global pandemic.
It’s really important to be conscious of how you are feeling and to take care of yourself because your business depends on it.
This can be as simple as soaking up some sunshine in your backyard. Beyond Blue has developed good advice for coping amid COVID-19 with a dedicated Mental Health Support Service including online resources.
Take this 5-min check-up
If you feel like you’ve got the weight of the world on your shoulders, this 5 minute check-up developed by Ahead for Business can give you the tools you need to manage your stress levels.
This is really tough, right?
At times, you may need help from professionals to work through concerns you have, whether they relate to anxiety you may be experiencing due to COVID-19 or the impact this health crisis is having on your business.
Beyond Blue has a dedicated COVID-19 Mental Health Support Service including online resources.
Trouble sleeping?
We are living through extraordinary times and sole traders are facing huge challenges.
If you’re struggling to sleep, that can be an indicator that some of the worries you have are getting on top of you. Your business needs you, so seek some help if you need it.
Understanding your tax obligations
Tax Help - Checklist Graphic
Getting on top of your debt
If your business is struggling with debt, there is help available to manage your situation.
What to do when you're in debt
There are also practical steps you can take to ease the stress of being in debt and get back on track financially.
Getting back on track after debt
The Australian Financial Complaints Authority (AFCA) helps small businesses to reach agreements with financial service providers about how to resolve their complaints. AFCA can deal with financial difficulty relating to a range of credit products and services.
Support with financial difficulty
If you need help with your financial issues, the National Debt Helpline can direct you to a financial counsellor who can provide you with personalised financial advice.
How to get paid and manage disputes
Before you deal with another business, make sure they are legitimate by asking questions to verify information about their company.
How to start doing business with other businesses
If you are having trouble getting paid for work you have done, sometimes a polite and professional conversation is all that’s required to clear up a misunderstanding. If this doesn’t work, there are other steps you can take to recover money owed to you.
What to do when you haven't been paid
Small businesses may run into problems with their suppliers, which can sometimes turn into a dispute. The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) has an online Dispute Support referral tool that makes it easy to find the most appropriate low cost service to resolve your business dispute. Small businesses can also contact the ASBFEO Assistance Team on 1300 650 460 for help with a dispute.
Resolving disputes with the ATO
If you find yourself in a dispute with the ATO, the Australian Small Business and Family Enterprise Ombudsman (ASBFEO) can help.
ASBFEO provides a concierge service for businesses that have received a negative decision from the ATO. ASBFEO case managers help small businesses decide if an application to the Administrative Appeals Tribunal for review of an ATO decision is an appropriate pathway to resolution.