Now the ATO has suggested five New Year resolutions for you!
The ATO has decreed what should be your five New Year’s resolutions. Thanks ATO! I might work on a list of five NYRs for the ATO!
The ATO’s suggested 5 New Year’s tax & superannuation resolutions for small business in 2023 are:
Know if you’re in business or not!
Keep your business details and registrations up to date!
Keep accurate and complete records!
Work out if Personal Services Income (PSI) rules apply to you!
Look after yourself!
While these “resolutions” are pitched at a fairly low level from a business perspective, they do give an indication of the ATO’s areas of interest in the small business tax arena.
