Build the tax-lodgment worklist for an SBR discussion

A tax balance is only part of the picture

You may know what the company owes the ATO but not which returns or statements remain outstanding. Those are different issues in a small business restructuring discussion. Ask the accountant for a document-by-document position so the practitioner can assess the work needed, rather than relying on a general statement that tax is being handled.

Start with the missing information

Imagine a fitout company with several unlodged activity statements because subcontractor invoices and bank coding are incomplete. The immediate task is to identify the missing records for each period. Give the bookkeeper responsibility for collecting them and the accountant responsibility for confirming what is required. An instruction to catch everything up is too vague.

Understand the relevant distinction

ASIC separates the tax-document requirements for proposing a restructuring plan from payment of tax debt. It also describes substantial compliance and says the requirements need consideration before appointment. Ask the practitioner how this applies to the company. Do not assume that making a payment fixes missing lodgments or that lodging documents means all eligibility requirements are met.

Source: ASIC: Small business restructuring and the restructuring plan

Record evidence of completion

Keep confirmations and the accountant's status update against the worklist. Distinguish drafted, approved, lodged and still awaiting information. A document sitting in an accountant's portal for signature is not the same as a confirmed lodgment. Make clear who must take the next action so a simple approval delay does not remain hidden.

Allow for changed figures

Completing old records may change the liability information supplied earlier. Send revised figures and explain the difference to the practitioner. In the fitout example, additional invoices may affect both the accounts and tax work. Keep versions dated so nobody prepares advice from a total that the accountant has already replaced.

Maintain the current work as well

Agree how new records will reach the accountant while the backlog is cleared. Otherwise, one set of overdue documents can replace another. Bring the completed worklist, remaining uncertainties and a realistic completion plan to the discussion. The purpose is an accurate assessment of readiness, not a promise that restructuring will proceed once a few forms are submitted.