Your March quarter activity statement is due soon

Your March quarter activity statement is due soon. If you are lodging your own quarterly activity statement you need to lodge and pay by the 28th of April. If you lodge using our registered agent electronic services you will have until the 26th of May to lodge and pay.

Make sure you have checked off the following:

  • Have you allocated all bank transactions to the correct accounts?
  • Have you verified that the bank balance listed in your accounting software matches the balance in your bank account?
  • Do you have tax invoices and receipts for all business-related transactions?
  • Have you checked the GST tax codes for all transactions?
  • Have you checked tricky transactions like agency arrangements, insurance, or overseas purchases for GST tax code accuracy?
  • Have you got the paperwork for asset purchases or new finance arrangements?
  • Do you need to include figures for PAYG installment, fringe benefits tax, or fuel tax credits?
  • If you have to report PAYG withholding for employees, you also need to check that your payroll categories and tax calculations are correct for the quarter, (or last month for employers who lodge a monthly IAS).

Checking the figures at each of the BAS reporting labels means your statements are more likely to be accurate and less likely to need GST or PAYGW adjustments at the end of the financial year. Plus, you’ll have a more accurate picture of your liabilities throughout the year and be able to plan accordingly.

Need help?

Talk to us today. We can help you prepare your activity statements or review your business accounting systems to make them easy, accurate and efficient.

Acro Accounting & Financial Planning (AAFP) offers a one stop solution right from accounting, taxation, financial planning to other business advisory services. As Certified Practicing Accountants (CPA’s) and professional tax advisors, we pride ourselves on being experts with the latest developments relating to business and taxation. We as professional public practice firm, provide high quality taxation and business advice to our clients through a personalised service at competitive rates.

Related Articles

What is the business value of automation?
If there’s a manual task in your business that’s taking up time, automate it. Automation removes the manual workload and streamlines your processes.
Understanding Your Profit and Loss Statement
Would you like to know more about the relationship between costs and revenue to make better business decisions? Book a session today to examine your financial reports with an experienced business advisor.
Business advices
Online shopping is hitting new records, growing dramatically and gaining new users. Is your business getting its slice of the online pie or do you need to invest more in your online presence?
Changes to Company Tax Rates – Less Tax?
Company tax rates are reducing for some businesses – is yours one of them? Tax planning now can help you plan ahead for your tax liability and create effective tax minimisation strategies. Get in contact to start your 2021 tax planning today.

Take the first step to grow your business

We work with you and provide ongoing help and support with regards to financial and tax matters and to ensure you realise your goals as you move throughout your personal and professional life.

CONTACT US

Portal Office Park Unit 5A, 2994 Logan Rd

Cnr Lexington Rd, Underwood QLD 4119

P.O. Box 1147, Springwood QLD 4127

Mon-Fri, 8am-5pm

Sat, 8am-12pm

DISCLAIMERS

Legal Advice Disclaimer

The information on this website is of a general nature only and has been prepared without taking into account your particular objectives, financial situation or needs.


Before selecting any product or service or acting on any advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs.


If any information in this publication relates to a particular product or service, you should obtain any relevant disclosure statement for that product or service before making a decision about whether to acquire the product or service.

Liability limited by a scheme approved under Professional Standards Legislations.

Corporate Authorisation Representative

Mohammed Saheed (308525) and Acro Financial Services Pty Ltd t/a Acro Wealth Management (1246594) are Authorised Representative of Lifespan Financial Planning Pty Ltd ABN 23 065 921 735, AFSL No. 229892, ACL No. 229892, Level 23, 25 Bligh Street, SYDNEY NSW 2000.

© 2021 Acro Accounting & Financial Planning

Pin It on Pinterest

Share This