Expert Accounting Advice And Support Based In Bella Vista

The due date to lodge and pay your monthly BAS is the 21st day of the month following the end of the taxable period. For example, a July monthly BAS is due on 21 August. If your GST turnover is $20 million or more, you must report and pay GST monthly and lodge your activity statements online.

If you do not pay minimum super contributions for the quarter by this date, you must pay the super guarantee charge and lodge a Superannuation guarantee charge statement – quarterly with us by 28 August. For more information, see Super for employers. Check key due dates for employers who need to pay super guarantee.

Your tax return covers the income year from 1 July to 30 June. If you need to complete a tax return you must lodge it or engage with a tax agent, by 31 October. When you lodge a tax return you include how much money you earn (income) and any expenses you can claim as a deduction.

We can supply you with a checklist of essential documents depending on your industry. You should also have your personal details, tax file number, income streams, tax offsets, deductions, and other relevant information previously claimed. 

Also include:

• Copy of last year's tax return.

• Records of sales and purchases of any shares, business, or property.

• Private health insurance details.

• Spouse details (if applicable)

• Children's details including date of birth.

If the client is a business, then yes, a tax agent can do this on their behalf, applying for a TFN is part of the process of applying for an ABN. For an individual client, the individual would need to complete the documents to apply for a TFN.

A tax agent is more concerned with your compliance with tax law and provides advice. They'll also file your statements and represent you to the tax commissioner. An accountant, on the other hand, is your strategist. Their business is helping you pay less tax.