How To Make Your Business More Efficient

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How often have you been late sending in your Business or Instalment Activity Statement to the ATO? It is the last thing you want to think about when running a business, doing the hard yards on the farm or when on a holiday and having a few drinks. Once you have processed all transactions in your cashbook and filled out your paper BAS, you then need to package it up and go to the nearest post box to send it off to the ATO – but what if the BAS is lost or even in a few instances I have seen, the ATO take the payment but doesn’t process the BAS? These are annoying circumstances; however they can be avoided.

There is an ATO online system called the Business Portal where businesses can perform multiple tasks online including:

  1. Lodgement of BAS & IAS
  2. View and send emails directly to the ATO
  3. Request a refund or transfer
  4. View ATO Accounts and transactions
  5. Updating contact details
  6. Adding or cancelling a tax type (GST, PAYG(W) etc.)

Not only can you perform all those tasks online, but you get a two week lodgement extension on all activity statements.

All you need to create a Business Portal is to register for an AUSkey, which can be done by clicking on the link at the bottom of the page and following the prompts.

Whilst I do recommend signing up to the Business Portal, it is important to note that there will be some system outages in the next couple of months. Please see below the dates and times in which the portal will be unavailable:

  1. 10.00pm EDT Friday 31 March to 6.00am EST Monday 3 April
  2. 10.00pm EST Thursday 13 April to 6.00am EST Tuesday 18 April (Easter)
  3. 8.00pm EST Saturday 6 May to 8.00am EST Sunday 7 May

Due to the outages, there will be new lodgement and payment due dates for the following:

  1. 5 May 2017 for the March 2017 monthly activity statement and PAYGW instalments
  2. 12 May 2017 for the first quarter 2017 activity statements.

If you have any questions regarding this process or simply require more information, please contact our office on 4613 0311.

By: Conor Hilton