A systemic problem and incorrect tax treatment that is not resolved can result in penalties, interest and a surprise tax bill. Even if the tax regulator hasn’t picked it up yet, doesn’t mean the problem doesn’t exist.
When you run a complex business structure where you engage with multiple entities, use sub-contractors regularly or interact with foreign companies, you will likely be under the spotlight of the tax office. At Trident Financial Group, we will work closely with you to:
- Identify the compliance risk areas in your business.
- Offer advice and solutions to help you manage the identified risks.
- Assistance with recruiting employees to decrease future risks.
Some of the problematic areas for businesses include GST on transactions and contracts, fringe benefit tax, capital gains tax on sales of assets, deductions claimed, payroll tax and superannuation guarantee. When you run a business, you don’t want to be at the centre of an ATO audit with avoidable issues. We take away this stress by helping you identify and reduce your risks.