Professional body CPA Australia has addressed a number of the key issues facing most businesses preparing to lodge their second quarterly BAS early next month.
The questions include:
- The first time I completed my BAS I filled out all 20 boxes on the GST calculation sheet. I've heard that there is a simpler method – is this true?
- If I made a mistake in my first BAS, can I correct it in my second BAS?
- I've heard that the Tax Office had some difficulties processing manually completed BASs. Why was this?
- What is the penalty if I lodge my BAS late or pay my BAS obligations late?
To read the answers, go to
bizreview.