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Assistance with dispute resolution can be a vital service for small businesses facing economic headwinds, says the small business ombudsman.
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Lean on us for help, ASBFEO urges struggling small firms
15 March 2023
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10 minute read
Small firms face substantial economic headwinds as they navigate away from COVID-19 plus the resumption of enforcement activity by the ATO so they should lean on ASBFEO for help, the small business ombudsman says.
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Bruce Billson said struggling firms should take advantage of services provided by the Australian Small Business and Family Ombudsman, which could help resolve disputes with the ATO or other businesses.
“Small businesses are reporting more headwinds in their face than wind in their sails at the moment, of course that’s not everybody’s story but for many it’s quite a challenging time,” said Mr Billson.
“A resumption of normal enforcement activities of the ATO may represent a particular challenge for them as they navigate labour shortage challenges, supply chain delays, rising energy costs, cyber security uncertainties, inflation, interest rates – it’s quite a full book of challenges.”
“We’ve seen those challenges coming together to really burden some of the small and family businesses as they try and navigate a path out of COVID.”
Mr Billson, who will present today at the Accounting Business Expo in Melbourne, said ASBFEO had plenty to offer struggling small firms. This included its Tax Concierge Service, which assists on issues to do with the ATO.
“It’s been going for a couple of years now but it’s been quietly doing really good work in the background. We were keen to raise awareness of the service and its value through the expo and to accountants so the event was a really good opportunity to do so,” said Mr Billson.
“It involves small businesses who have had an issue over a lodgement, there may have been an audit or an amended assessment, there may be an objection to that assessment and the small businesses trying to work out how to progress it to the next point.”
“Our work sees us assist that small business in getting a reality check as to the likely success of their objection and its suitability to take to the AAT for appeal and if there are legs in the objection then we assist in landing that objection in the most effective way the taxpayer can.”
Mr Billson also said ASBFEO had seen several payment disputes among businesses, with firms having to harden their positions as they dealt with unfamiliar problems.
“[There are] a very significant number of payment disputes at the moment, particularly where some parties are hardening their position, but also a reality for some that the market that they’re familiar with, and have been serving well for years, may have changed,” he said.
“A lot of businesses haven’t had a lot of experience pricing their goods and services in a higher than usual inflation market, interest rates also present some challenges and in some cases the legacy of accommodations afforded to small businesses during COVID.”
“So those things are coming together now and representing a new set of conditions that a business needs to navigate and there are times when that business feels it’s all a bit overwhelming so they reach out to us so we can help with certain kinds of disputes and connect them with outer resources that may be useful.”
Mr Billson will present at the Accounting Business Expo in Melbourne at 2:30pm today.
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