If an entity or an individual who is registered for GST is required to lodge a Business Activity Statement, commonly called BAS either on a monthly, quarterly or yearly basis as a tax requirement by ATO. We as bookkeepers who provide bookkeeping services can help you in taxation obligations. We will make sure you are doing the right thing to keep you out of taxation stress and help you focus on your business.
Reliable Bookkeeping Services providers acknowledge that BAS is about reporting and paying GST, PAYG withholding, PAYG installment or any other taxation obligation.
The Bookkeeping services that we provide make sure you will lodge your BAS before the due date to make sure you will not get penalized.
If you are late on lodging your BAS then you will be penalized for failure to lodge on time (FTL) penalty. FTL penalty is the administrative charge that is applied to the BAS that is lodged late.
FTL Penalty varied from Small to medium to a large entity. The medium entity can be an entity that holds PAYG holding or assessable income more than 1 Million and less than 20 Million. However, the large entity can be an entity that holds PAYG withholding and turnover more than 20 Million.
| Days overdue | Small | Medium | Large |
| 28 days or less | $170 | $340 | $850 |
| 29 to 56 days | $340 | $680 | $1700 |
| 57 to 84 days | $510 | $1020 | $2550 |
| 85 to 112 days | $680 | $1,360 | $3,400 |
| 113 days or more | $850 | $1700 | $4250 |
Have you forgotten about lodging your March Quarter BAS return which was due on 28th April?
Are you worried about getting penalized from ATO for late lodgement?
Yes, we can help you been a registered BAS agent, we do get an extended period to get your BAS lodged on time. Our due date for BAS lodgement for March quarter BAS is 26th May.
So, hurry up and give our office a call on 03 9310 7871 and book a free consultancy appointment with one of our qualified staff that will take the accounting compliance stress from you.
