Frequently Asked Questions

GST

When do I know if I need to be registered for GST?

You must be registered for GST if your Business turnover is $75,000 or more.

BAS/IAS

What is an IAS (Instalment Activity Statement) & how often do I have to pay this?

If the ATO requires you to pay PAYG on behalf of your employees more often than quarterly, within your BAS, then they will request a monthly IAS to be calculated and lodged.

What are the dates I am required to lodge and pay my BAS?

If you are required to lodge a quarterly BAS the compliant dates are as follows:
Quarter 1 – July, August, September due by 28th of October
Quarter 2 – October, November, December due by 28th of February
Quarter 3 – January, February, March due by 28th of April
Quarter 4 – April, May, June due by 28th of July

If OAS lodge your BAS, you get an extra month on all quarters to pay.

Staff Super

When does this need to be paid and how often?

The legal obligation for most businesses is quarterly payments of super that line up with the GST quarters, however the government is in the process of changing legislation regarding how we pay and lodge super. Get in touch with us for more information on your super obligation.

WorkCover Insurance

Why does my workers compensation insurance cover have different dates from the financial year?

Most workers compensation policies have different policy dates. This depends when the original policy was taken out, therefore your reports to calculate and provide the correct information to your insurance company should be filtered with the dates of the return.