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Tax Accountant Lalor

Factors to Consider When Preparing Your BAS Tax Return!

When preparing your Business Activity Statement, you must consider certain factors without a miss.

These include the following:

  • Whether or not you should include any PAYG installment amounts, fuel tax credits or that of fringe benefits tax.
  • Make sure that you arrange all your paperwork tasks systematically to buy new financial arrangements or potential assets.
  • Ascertain the presence of any complex transactions including GST tax code impeccability, and offshore insurance or purchases, etc.
  • You must verify the GST tax codes pertaining to all your potential transactions.
  • Ensure that you have got potential tax receipts and invoices pertaining to each of the potential transactions of your business.
  • Verify that the balance of your bank account is matching with the bank balance enlisted in an accounting software solution.

Author

KPG Taxation

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