It’s time to start preparing your September BAS
Make sure everything is uploaded to ReceiptBank / Dext so we can get to work.
Please send bank statement pdfs so we can reconcile your bank accounts.
Using our BAS agent extension – the due date is 25th November.
Here we are at the end of another quarter!
What do you need to keep an eye on this month?
Start by enjoying the day off next Monday!
Then celebrate being the boss (even if it doesn’t always feel like you are in control), then make sure you’ve paid all the super for your staff (& some contractors) for the July – September quarter.
And get moving on preparing your July-September BAS.
Then celebrate with some treats!
Don’t forget to arrange payment of your August IAS.
If you are unable to pay in full by Monday, contact the ATO on 13 72 26 to arrange a payment plan.
Not too much to add to your calendar this month after the excitement of EOFY.
Now that your June BAS has been completed, you can speak to your accountant about preparing your 2023/24 tax return.
And monthly lodgers need to make sure your August IAS is lodged and paid.
If you have a construction, cleaning, IT, freight/courier or security business you need to report payments made for service to your subcontractors to the ATO.
This is one of the submissions that won’t cost you any money (assuming you lodge on time, otherwise expect a fine).
Construction is very broad – it includes engineering services, architecture, communications construction, decoration, landscaping, retaining walls, swimming pool construction/installation, waterproofing and wallpapering.
Didn’t know TPARs were a thing? Ask us to help.
Know you won’t be able to pay your June BAS by Monday?
Late lodgement can result in fines and penalties for your business and for you as a director, submit your June BAS now and organise a payment plan.
(before everyone else clogs up the phone lines)
Mark your calendars
Don’t forget to celebrate being an entrepreneur (someone who develops, organises and runs a business enterprise, accepting risk and uncertainty in order to make a profit – the profit bit is important!)
And sing out if you’d like to join us for afternoon tea!
June quarter BAS is due soon – how soon depends on your lodgement method.
Pinkish paper forms need to be with the ATO by Monday,
if you’ve upgraded to lodge your own BAS online, you’ve got another 2 weeks.
If we lodge it for you, you’ve got another 4 weeks until your payment is due
If you pay subcontractors, you may need to lodge a Taxable Payments Annual Report (TPAR) by 28th August.
Its a bit like lodging group certificates – no extra payment is required, you just need to report on total payments made during the last financial year.
If your company doesn’t pay super on time for employees (and some subcontractors), directors become personally liable to make the payment.
ATO says: Company directors are responsible for ensuring their company’s tax and super obligations are reported and paid on time.
If your company has an overdue debt, and doesn’t pay the amount owing or make other arrangements, we (ATO) may issue a director penalty notice (DPN).
April – June super must reach the fund of your team on or before 28th July – it takes longer than you think to arrive, so authorise the payment now!
