You start a business and most likely you will need to register for GST as you may earn over $75,000 per year.
There comes the first hit. You then need to lodge a painful BAS every quarter to please those hard working types at the tax office. Don't be late or those self important knob jockeys will fine you for the pleasure.
God forbid you dare employ some staff and withhold a decent amount of tax from their wages every year, and they make you lodge a monthly instalment activity statement so they get the tax you withhold even quicker.
Then the best tax of all comes out and kicks in you the arse, payroll tax. Let's penalise the small business owner for employing people. Awesome incentive that one. Make sure you register with those delusional types at the Office of State revenue before you reach the $658,000 threshold or they'll penalise you for not registering early enough. Don't forget that you need to pay that monthly payroll tax payment shortly after the end of the month, or you'll be in big trouble!!
You're on top of it all, then along comes the workers compensation audit. You get a real asshole on the audit as the insurance companies now outsource the audits to accountants who do not speak english or understand what wages really are! That contractor you paid 3 years ago... he wasn't independent. YOU'RE IN TROUBLE!
You forgot to pay super on time didnt you? You silly small business owner you! How dare you employ staff and actually try to help the country. Silly silly silly. Go waste more time and fill out a superannuation guarantee charge form for being so neglectful!!!
Hang on a second - the bank is ringing, they want the latest quarter financials within 5 days of the quarter ending... GET YOUR ACT TOGETHER!
The ATO leaves you a voicemail at the same time. You owe them money. You have 3 days to get back to them and setup a payment arrangement or they say they may commence legal action. Interest is accruing on the debt... hurry up!!
You provided fringe benefits didn't you? How come you are not aware of your fringe benefits obligations?
LOL.
I can't see why there are so many people failing. I really can't.... and I didn't even mention the carbon tax.
