A BALLARAT based accountant is warning that there could be some delays in the ability of people to prepare and submit tax returns this year.<\/p>\n
Bill Cluff from Cluff Chartered Accountants said that COVID-19 impacts mean small businesses have been granted an extension on getting group certificates and end of year information to the Tax Office.<\/p>\n
\u201cAs we know, many small business owners have been under extreme stress as a result of COVID-19,\u201d he said.<\/p>\n
\u201cSome of these businesses are struggling to keep their head above water and as a result, the government has given them an extension until 31 July for single-touch-pay roll to be updated for 2020 end of financial year.\u201d<\/p>\n
The extra time to submit applies to companies with 19 or less workers on the books.<\/p>\n
That potential delay could affect people on JobSeeker payments as well as those with reduced incomes and on JobKeeper.<\/p>\n
Ultimately, Mr Cluff said that means some people could have to wait up to four-weeks longer for their tax returns to be processed and for refunds to hit their accounts.<\/p>\n
\u201cThere will be individuals and families across the region who will be relying on their tax returns to be lodged as quickly as possible to gain access to some extra funds and most won\u2019t realise that their employer may have until the end of July to lodge details with the ATO and My Gov.\u201d<\/p>\n
\u201cIt may come as a shock to many so we\u2019d like to try and prepare people for the fact that this year they may have to wait a little longer than anticipated.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
A BALLARAT based accountant is warning that there could be some delays in the ability of people to prepare and submit tax returns this year. Bill Cluff from Cluff Chartered Accountants said that COVID-19 impacts mean small businesses have been granted an extension on getting group certificates and end of year information to the Tax […]<\/p>\n