Retail business owners and directors are being urged to seek help immediately if theyre struggling to pay their tax because of pandemic-driven cash flow issues.
Speaking up now could ensure retail owners have more options to save their business or restructure, according to national business rescue and insolvency firm, Jirsch Sutherland.
Inconsistent cash flow has a huge impact on when and how a business can meet its tax obligations, Jirsch Sutherland partner, Andrew Spring said.
The lockdowns and restrictions are causing many retail businesses across the country to struggle, and rising tax debts serve as a reminder to seek help. If youre behind in your tax payments, its crucial to act quickly. While the ATO has been sympathetic about u…
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