Client Profile
Established small business with a strong compliance history and consistent profitability in prior years.
Challenge
Due to unexpected cash-flow pressures, the client fell behind on tax payments. As a result, significant General Interest Charges (GIC) were imposed by the ATO, further worsening the financial strain.
Strategy
Reviewed the client’s full compliance and payment history
Identified exceptional circumstances contributing to the short-term financial turmoil
Prepared a detailed GIC remission request supported by financial evidence
Demonstrated that the business had a strong historical performance and genuine intent to comply
Outcome
The ATO approved a substantial remission of GIC, significantly reducing the client’s tax burden and allowing the business to stabilise cash flow.
Key Takeaway
A strong compliance history and well-prepared submission can make a meaningful difference when requesting GIC remission.