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Articles
Our 2021 Advent Calendar.
ATO flags focus areas for combating $33.5bn ‘tax gap’
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Employee Christmas Parties and Gifts – Any FBT?
FBT – Christmas Parties and Taxi Fares
How the best firms are supporting the mental health of their employees
Asian Economies (1960 - 2020)
Making the festive season less taxing
Why more Millennials are turning to SMSFs
Hardship priority processing of tax refunds
Business valuations: Tips, tricks and traps
Government moves to scrap SG $450 threshold
World's most productive countries
Superannuation changes - Superannuation guarantee (SG)
Unused Super Contributions
Main residence exemption myths and misconceptions
ATO extends COVID-19 relief for SMSFs
Treasury consults on increase to charities financial reporting threshold
Greenhouse gas emission by country since 1880
ATO announces STP Phase 2 blanket deferral
Reminder: super changes for the 2021 financial year
Recontributions of COVID-19 early released super
Working from home during a COVID-19 lockdown: Can you claim a tax deduction for rent?
Hardship priority processing of tax refunds

If your business is experiencing financial difficulties from the many lockdowns, the Australian Taxation Office (ATO) may be able to help by processing the tax return faster, if you are due a refund. 



Priority processing of a business tax return doesn’t guarantee a refund e.g. there are outstanding tax or similar debts.  However, the credit from a return may be used to pay down those debts and take collection pressure off.


 


You can apply for ATO priority processing through your tax professional.  Once the initial request for priority processing is received, you’ll be notified and contacted if more information is required.  Processing will take more time for businesses that have lodged several years’ worth of income tax returns or amendments at the same time, and those that have unresolved tax debts.


 


Before lodging any priority processing request, check the progress of your return by contacting us.  If the return is already in the final stages of processing, you may not need to lodge a priority processing request – the return will be finalised before the ATO has an opportunity to consider the request.


 


 


 


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24th-November-2021

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