Lodge Your Next BAS Before Its Get Too Late!

Lodge Your Next BAS Before Its Get Too Late

Are you still left with filing your Business Activity Statements (BAS)? If yes, lodge today as you still have some days left. Quarterly business activity statement lodgement is due on 28 February. In case, you file later, you may attract penalties and may be considered a defaulter.

To complete your BAS, here are some easy tips that can help:

  • Lodging and paying online can help you get additional two weeks to lodge and pay.
  • Standard Business Reporting (SBR) or online services for businesses can allow you to file online.
  • You can use BPAY or a credit/debit card to pay your BAS.
  • You’ll get notifications when you utilise the online services of the ATO to avoid mistakes.
  • It is still necessary to file your BAS as “NIL” even if you have nothing to report.
  • You don’t need to send the ATO a paper form if you lodge online.
  • If you can’t pay or lodge on time, contact the ATO to discuss your options.
  • You can lodge your BAS through a registered tax or BAS agent.

Standard Business Reporting (SBR)-enabled software

This standard method of online or digital record keeping, Standard Business Reporting (SBR), is used to make reporting obligations for businesses simpler. SBR regulations are incorporated into business software by digital service providers to make it SBR-enabled.

SBR is used to create and submit reports directly to the tax office.

Credentials in SBR-enabled software

You can securely send data to the ATO using your SBR-enabled software by using a credential. You don’t have to make this credential if you’re utilising cloud-based SBR software as your software’s builder will incorporate it in the software itself.

You need to make a machine credential using Relationship Authorisation Manager if you use desktop or locally hosted SBR-enabled software (not cloud).

For more details about filing and paying your quarterly BAS online, feel free to contact our tax accountants. We are a team of trusted professionals having the right knowledge about taxes and accounts.

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