The ATO has the following tips to help taxpayers get their BAS right before they lodge:

• They should make sure they enter thefigures for their obligations at the correct label, and only complete applicable fields.
• If lodging online, or through a registered tax or BAS agent, they may be able to get an extra 2 or 4 weeks to lodge and pay.
• If they have nothing to report for the period, they can lodge a ‘nil’ BAS online by selecting ‘Prepare’ and then ‘Prepare as nil’, or they can call the ATO’s automated service “any time of the day”.
• If they made a mistake on their last BAS, instead of lodging a revision, they may be able to use their current BAS to fix it. For example, they can use label 1A to adjust GST on sales, or label 1B to adjust GST on purchases.
• They can also use their BAS to vary an instalment amount.

If you have any questions or would like to speak to one of our professional business and tax advisors, please contact our office on (08) 9392 7600 to make a booking or click here.

With three offices across Western Australia and over 20 years of experience, Acclaim Accounting is a dynamic team of highly trained and skilled individuals committed to providing innovative and effective advice, excellent service and maintaining only the highest standards in ethical professional practice.