Omnia Rescues Business Owner By Solving Highly Stressful Tax Problem
A very successful coffee van operator was facing a serious crisis after falling years behind in their business and personal tax affairs.
The coffee van operator hadn’t lodged any returns with the ATO for three years, after initially falling slightly behind and then having the situation snowball out of control. Not knowing what they owed wasn’t just making them anxious – it was also restricting their growth as they didn’t have the paperwork required to apply for finance. Thankfully, the coffee van operator called in Omnia Business Solutions, who had dealt with this scenario many times before and knew exactly how to solve the problem.
Omnia got their financials up-to-date by:
- Implementing Xero accounting software fortheir 50% cash-based business
- Capturing and allocating more than 3,500 transactions
- Capturing vehicle purchase, disposal and leases
- Lodging 12 BAS, three company tax returns and six individual tax returns with the ATO
- Negotiating a reversal of penalties for late lodgement and application for grants due to COVID
With that, the client’s problem, which had seemed insurmountable, was solved. “I’m so grateful to Omnia for their hard work and for helping me overcome this tax nightmare, because I can’t tell you how much stress it was causing me,” the coffee van operator said.
“Once I was all caught up with my taxes, I wanted to keep it that way, so I engaged Omnia. Their month-end reports give me full visibility of my business’ finances – so I can plan ahead and make smart, informed business decisions.”
“Once I was all caught up with my taxes, I wanted to keep it that way, so I engaged Omnia for ongoing bookkeeping and accounting services.”
“Their month-end reports give me full visibility of my business’ finances – so I can plan ahead and make smart, informed business decisions.”