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Small business accountant Sydney explains what to do if you are audited

Are you worried that you might have submitted your tax return a little rushed? Well our small business accountant in Sydney will give you a few things to do if you are getting audited.

This way you are prepared for anything and don’t have to worry about the added stress from the ATO. Here is what our business accountant recommends you do if an audit occurs:

• The first thing you should do is gather all the information about your business in the past financial year
• Get in contact with a small business accountant professional to help you through the entire process
• Always stay calm and don’t panic
• Ensure that you have kept good record keeping
• If you did make a mistake, be sure to own up to it, as it will reduce the penalties
• Know what you are being audited for and make sure you focus on that specific area
• Be cooperative with the ATO and tax agent

Simple yet effective ways that your business can handle being audited, or you can even leave it in the hands of a professional business accountant in Sydney!

Feel free to get in touch with our small business accountants in Sydney with any enquiries that you may have.

 
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