‘Business viability’ is whether a business is surviving. This survival is linked to its financial position and performance.
A business is viable where either:
- it’s returning enough of a profit to provide a return to the business owner and also meet its commitments to business creditors
- it has sufficient cash resources to sustain itself through a period when it is not returning a profit.
The ATO is now assessing a business’s viability when:
- a client has defaulted on a payment plan or have not met lodgment and payment due dates
- negotiating with the ATO about paying off a debt (payment plans).
You can use this tool to assess whether the ATO will grant an extension to your lodgement date or set up a payment plan
Based on the information you enter, this tool will provide you with a financial report summary and a visual summary of business performance indicators. This report may also help you to identify areas of your business to improve.
