How Compliance Is Checked
You are in business because you are very good at what you do. This doesn’t mean you need to be a financial whizz-kid. You rely on quality accounting advice from your professional, accredited accountant. Keeping up-to-date is a necessity for all professionals, accountants included.
If you are a business owner you should forward this checklist to your accountant. It may be they have been too busy to delve into the constantly shifting focus of the Australian Tax Office and you could be missing out on tax deductions.
Worse still you it is your signature on the accountant’s EOFY reports that says, “To the best of my knowledge, these reports are accurate and the numbers are correct.”
Take the pressure off yourself and your accountant with this simple checklist. Ask you accountant to tick all that may apply to you.
Then ask them to ensure that your bookkeeper and the reports prepared comply with the items on the ATO Hit List.
To make this really easy, just send your bookkeeper and your accountant this link, and ask them to complete the checklist for you, highlighting things that they feel needs your immediate attention.