Staying up to date with taxation and superannuation laws is one of the areas that small business owners struggle with, largely because few have the time to wade through complex legislation to understand whether the changes in taxation and superannuation will affect them.

In fact, many small business owners are so busy that they are often unaware of any changes that may have occurred.

Faced with this problem, many must find the time (and the money) to sit with their accounting of legal services provider to understand the impact of changes to current taxation and superannuation regulations.

“This is a particular issue for many service station owners, who both work within and manage, fuel retail businesses that operate on a 7 day a week basis”, said ACAPMA CEO Mark McKenzie.

In a very welcome move, the Australian Taxation Office has provided a solution that addresses this issue by providing plain English taxation and superannuation information to small business owners via an email notification service.

The new ATO Small Business Newsroom, launched just last week, is designed to keep small business owners up to date with the very latest in taxation and superannuation news.

By signing up to the information service, small business owners will receive regular updates and information in the following areas:

  • General tax and super news
  • Lodging and paying tax
  • Employer obligations
  • GST and excise
  • Superannuation matters

“Put simply, this new service is purpose-designed for time-poor small business owners and is one that we strongly recommend for all of our small business members as a quick and uncomplicated way to stay up to date on taxation and superannuation matters”, said Mark.

“For many small businesses, dealing with the ATO often increases business stress but it is fair to say that the ATO is fast becoming one of the easier Regulators to deal with in our industry – and this initiative is yet another example of their genuine desire to cater for the specific needs of small business”, concluded Mark.

Members wishing to sign-up to the new ATO Small Business Newsroom can do so by clicking here (https://www.ato.gov.au/Newsroom/smallbusiness/Subscriptions/)

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