Industry Insight: All About ATO Audits

Is your business about to be audited by the ATO?
A letter from the ATO can send a chill down the spine of any small business owner. Treading the fine line between survival and smart business practices, all owners have to deal with this tight rope. As a previous Financial Planner, I would help to identify potential risks to businesses and explain how to stay off the ATO radar. At the end of the day it comes down to 3 main objectives:- Stay on top of super obligations
- The ATO publishes benchmarks for our industry, make sure you are sitting within them
- Invest in an accounting system that helps you meet your legal and reporting requirements
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