iscover Small business tax objections ‘leapt during pandemic’
TaxSmall business objections to ATO decisions leaped during the pandemic and a “significant number and proportion” were disallowed, says the Inspector-General of Taxation and Taxation Ombudsman (IGOT), Karen Payne.
Speaking on the latest Accountants Daily podcast, Ms Payne said a report by the IGOT on the tax objection system, released today, shows pandemic support programs prompted the rise, with small business and their agents struggling to keep up with the changes.
“If you think about the nature of COVID stimulus measures, they’re new areas of law,” Ms Payne said. “The practitioner in particular has an obligation or an expectation that they will get themselves up to speed with those new areas of law.
“The small business is then increasingly reliant on the practitioner to advise them on what are their rights and their entitlements. And so that’s coming through in the data.
“And I’m sure for practitioners who are listening to this, it’s no surprise. Everybody was flat out trying to keep up with the reforms and to help the clients and small businesses in particular to keep ahead of it.”
Philip King
Philip King is editor of Accountants Daily and SMSF Adviser, the leading sources of news, insight, and educational content for professionals in the accounting and SMSF sectors.
Philip joined the titles in March 2022 and brings extensive experience from a variety of roles at The Australian national broadsheet daily, most recently as motoring editor. His background also takes in spells on diverse consumer and trade magazines.
You can email Philip on: [email protected]
