Australian taxes are complex, and so are the super payments. If you are a business owner who is struggling with filing taxes and managing super debts, it’s important to seek the assistance of a professional tax accountant who can take the worries off your head by taking the responsibility of reporting tax obligations on time.

There are also other options you can go with, including taking online help of the resources and calculating software approved by the Australian Taxation Office. This will help in saving a great amount of time as you can do everything sitting at your comfort rather than standing in a queue.

When it comes to managing your taxes, there are several choices you can follow depending on the type of debt you have and how much you owe. One of the most practical options is a payment plan that helps meet your obligations.

Here are some effective tips for keeping debts under control:

• Keep a record of your overall tax and super debts.
• Look for past due bills in the online services for businesses that are not reflected in your account balance.
• Any credits or refunds owed to you may be used to pay down this debt as well as others.
• Your options will become fewer as your debt increases. For instance, if your debt exceeds $100,000, the ATO might reveal it to the credit agencies.
• Inquire about the Cash Flow Coaching Kit with your personal tax advisor. It is a tool that is used to help improve your cash flow capacity.
• You are personally accountable for debts that are subject to director penalties if you are a company director.

If you are a naïve about taxes and super, schedule a consultation with a professional tax accountant on how to handle them. You can also hire an expert tax agent to manage your tax reports on your behalf.

At KPG Taxation, we are your local accountants and business advisors who excel at negotiating payment plans and saving you with dollars. Reach out to us directly or schedule a consultation appointment over the phone to get started.