Your monthly activity statement (BAS) is due on the 21st

Your monthly activity statement is due by the 21st of this month.

 

Use the following checklist to make sure you are ready for lodgement day:

 

  • 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 paperwork for asset purchases or new finance arrangements?
  • 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 adjustments at the end of the financial year. This results in you having a more accurate picture of your liabilities throughout the year and being able to plan accordingly.

 

Any questions? Talk to us. We can help you set up the processes to make this area of your business easy – and you can focus on your business.

 

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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.

Not too sure how the future of your business is looking?

CONTACT US

Postal 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

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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.

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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.

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