Do not underestimate the importance of keeping track of your expenses! If you’re looking to improve your records this year and all you focus on is putting all your receipts into a folder on your computer or into a shoe box then you will be winning. This is the foundation that everything else is built on. Without it everything else will fall apart. Rubbish in ➡️ rubbish out. Keep your receipts!
October is a busy month in tax land. Business Activity Statements, Income Activity Statements and Tax Returns are all due this month. But did you know that if you’ve been a good little tax lodger we can most likely get an extension for you? So if you’re feeling under the pump and need a helping hand get in contact, we can help you.
28 October – Quarter One Business Activity Statement and Income Activity Statement due.
Did you know if you use the GST by installments method or have PAYG installments (as either apart of your BAS or IAS) these amounts are calculated using figures from your last lodged tax return? If your income fluctuates from year to year this could mean you might be paying too much or too little. By keeping your books up to date you can make an estimation of your actual tax amount and vary your BAS or IAS payment. Don’t know what we’re talking about? Or need some help? Contact JoJo, she loves this stuff.
31 October – 2018 Tax Returns due.
Did you say extension? That’s right. If you have lodged your previous tax returns on time it’s more than likely we can get you an extension to May 2019. How do you get it? Register with us as a client before 31 October. This extension enables tax agents like us to get enough clients so we have work for the whole year, so really you’re the one doing us the favour here. Want to find out more? Contact us (you know you want to).