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- When is my Business Activity Statement due?
Quarterly BAS are generally due on the 28th day after the quarter end. However, if you lodge through us you are automatically given a 2 week extension.
- When is my Tax Return due?
Individual tax returns are normally due on 31st Oct of the financial year. However for our clients, tax returns are due March/April/May of the following year. For example, the deadline for 09/10 returns would be March/April/May 2011. You should register with us before 31st October to get our tax agent concession on the lodgement date.
- How long do I need to keep my tax records?
You are required to keep your records for 5 years from the date of lodgement. We therefore suggest you maintain your records for 6 years in total.
- Do you offer a bookkeeping service?
Yes, please contact us on 0433227561 if you would like to discuss this further.
- What do I need to set up a Sole Trader business?
We can set that up for you. This includes ABN, GST, PAYG withholding etc as required.
- I have started my own business and wonder if I need to register for GST.
Businesses with an annual turnover of $75,000 or more are required to register for GST. If your business has a lower turnover you are not required to register but you may if you wish to.
- I am self employed and have paid personal superannuation contributions all year. Can I claim?
Provided you satisfy the eligibility criteria you will be able to claim a deduction for the contributions you have made to a complying superannuation fund or retirement savings account. To do so you must be fully self employed or no more than 10% of your assessable income (including Reportable Fringe Benefits) is from an employer. You must also have first notified your superannuation fund of your intention to make the claim and received a confirmation.
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