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10 Tips for Getting Your BAS Right

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Here are 10 good tips for completing your next business activity statement (BAS)…

#1 Keep accurate and complete records of all sales, fees, expenses, wages, and other business costs.

#2 Use our Record keeping evaluation tool to help you assess how well you’re keeping your business records.

#3 Only lodge one BAS for each period. If your form has been replaced, you should use the replacement form and not the original.

#4 If you lodge electronically, there’s no need to send us the paper form.

#5 Only complete fields that apply to you. If you have nothing to report, enter zero.

#6 Make sure that you have entered the figures for your obligations at the correct label.

#7 Enter whole dollar amounts – leave cents out and don’t round up to the next dollar.

#8 Lodge online and you may get an extra two weeks to lodge and pay your BAS.

#9 Remember, if you’ve made a mistake you can revise or fix the mistake on your next BAS.

And #10… remember the best way to be confident is by using an expert tax agent or bookkeeper! So if you’re having any concerns give us a call. We’d be delighted to make BAS time easier for you.