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ATO cancelling inactive trust ABNs says small business accountant Melbourne

In a statement recently released by the ATO, they are looking to cancel trust ABNs that have been proven to be inactive or no longer operate. Although, the small business accountants in Melbourne suggests that trusts and their accountants check on a few things even if you still operate.

If you ever receive a letter from the ATO saying that your trust ABN has been cancelled, make sure to read the letter and check why it has been cancelled. ATO can make mistakes sometimes and if you think they are making a mistake, make sure to contact them right away to rectify the error. 

On the other hand, even if you do not receive any letter, make sure to check that the contact details that is on file with the ATO is correct and up to date. Your ABN may have been cancelled without the ATO ever able to notify you because they simply cannot contect you. 

If you are unsure whether or not your small business accounting in Melbourne is right, or if you are thinking of changing your small business accountant in Melbourne, contact m.a.s accountants now. We will get your small business accounting in order.