The ATO wants financial information about your business.
A financial-information request needs a coherent set of records. Identify the scope, reconcile the figures and explain gaps so the response describes the business as it actually stands.
Corporate Recovery Partners
01 / 06
Different files tell different stories
A commercial laundry asks the ATO to consider its debt position. The accountant has last quarter’s accounts, the owner has a newer cash spreadsheet and the bank balance has changed again. Sending all three without explanation could leave the reviewer unsure which figures support the proposal.
Confirm what is sought, the periods covered, the response date and the authorised channel. Verify unexpected requests through a known ATO contact before sharing sensitive records. Ask the tax agent to clarify anything ambiguous.
Identify who will supply each item. A request should become a short worklist rather than a general instruction to send everything from the accounting system.
Match bank balances, creditor schedules and outstanding customer amounts to a clearly stated date. Explain differences between management accounts and later transactions. Keep original records available to support corrections.
Separate company and personal information and provide each only where properly required. Do not silently move an owner contribution into trading income to make the business performance appear stronger.
The ATO viability guidance considers financial performance and the ability to meet outstanding debts while funding ongoing commitments. Prepare a forecast that connects the requested records with the proposed repayment capacity.
Identify assumptions about collections, asset sales and future work. Confirmed receipts and optimistic prospects should remain distinguishable so an adviser can test the proposal realistically.
Have the responsible adviser review completeness and consistency before submission. List any unavailable item and the steps being taken to obtain it. Do not invent a missing record or conceal an unfavourable balance.
Keep the submitted version, delivery confirmation and follow-up questions together. Update the adviser if a material event changes the position while the request is being assessed.
