The accuracy of the content is not guaranteed. Please rely only on the authorised document. With just 32 working days left for businesses to be guaranteed to be registered in time for The New Tax System, Tax Commissioner Michael Carmody today announced the start of a new television campaign to ensure businesses register before the 31 May deadline. New television advertisements begin screening today (Thursday 13 April) urging businesses to register without further delay. "While many businesses have done the right thing and registered, there are still a large number of businesses who have yet to register," Mr Carmody said. "To be guaranteed that they will be registered for the New Tax System by 1 July 2000, businesses must apply by 31 May 2000 - at the latest. This means businesses have just 32 working days left to get their application in," he said. "I want to make it absolutely clear that there won't be any extensions to the guarantee date, just problems for those who miss the deadline. Whilst the Tax Office will do everything possible to register businesses for The New Tax System, I cannot guarantee those businesses who miss the 31 May cut-off that they will get their ABN in time for the 1 July start of the new system. Any business which misses the 31 May cut-off may face serious consequences. "Businesses who don't have an Australian Business Number (ABN) cannot register for GST and that means they will not be able to claim back the GST their business pays. They won't be able to claim credits for wholesale sales tax paid on stock on hand at 30 June 2000. Their pricing may be uncompetitive as they won't be able to claim back their GST. "Other businesses may withhold tax from payments to them at the highest marginal rate, plus the Medicare levy (currently 48.5 per cent). In any case, other businesses will be unlikely to deal with them as it will complicate their accounting processes. "We have received over 1,311,531 applications for an ABN - the key to The New Tax System - that means we are well over the halfway mark. And we have issued over 1,032,208 ABNs. The quickest way to register is over the Internet through the Business Entry Point at www.business.gov.au. or through tax agents and 80% of businesses registering this way are getting their electronic applications processed within two weeks. "If you don't have access to the Internet and don't use a tax agent, you can use the registration kit we sent you in November or get a new one from major banks, post offices and newsagents or mailed by calling 13 24 78. If any business has any questions about registering, they can ring our helpline on 13 24 78." CANBERRA
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