BAS

BAS (Business Activity Statement) Help for Northern Rivers Business Owners…

If the Business Activity Statement has been filled out and after submission you discover a mistake in the BAS, what is the most effective way to correct this slip?

Should a revised Business Activity Statement be filed?

Would there be a charge whenever the ATO has been under or over paid due to the mistake?

We indicate to our customers the best way to adjust this fault without their business receiving any punishment from the ATO.

In your eyes would it constitute a benefit to your business to get another fortnight extension each quarter to submit your Business Activity Statement?

If you submit your activity statement on a quarterly basis, you could be eligible to an extra 2 week lodgment extension each quarter.

Is your business getting all its GST benefits at the time of lodging the Business Activity Statement?

For example, your business could have employees who are entitled to claim meals on the premises or whilst they are on an out-of-area placement.

Knowing what your business could lawfully claim means you avert paying too much GST.