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Andrew Jeffers CEO / July 16, 2020

Your June 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 July. If you lodge using our registered agent electronic services you will have until the 25th of August to lodge and pay.

  • 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?
  • Do you need to include figures for PAYG instalment, 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. This results in you having a more accurate picture of your liabilities throughout the year and being able to plan accordingly.

Would you like more time to prepare and lodge your BAS? If you lodge using our registered agent electronic services you will have until the 25th of August to lodge and pay.

Talk to us if we can assist with preparing your activity statement or reviewing your business accounting systems and processes to make it easy, accurate and efficient.

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Filed Under: Andrew Jeffers, Business, Business Planning Tagged With: Andrew Jeffers, Business, marketing, marketing goals, shuriken, shurikenconsulting

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Shuriken is at the forefront of accountancy, providing clients with a broad range of services, coaching and mentoring.

Contact Shuriken if you want to launch or grow a business or if you want to get a clear action plan on how to achieve your financial goals. We can help with benchmarking, cashflow forecasting, payroll and much more.

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