10/08/2006
Monthly BAS Deadline Submission - A Letter to the ATO
The following is a letter to Mr Murray Crowe, Assistant Commissioner of the ATO in regards to end of financial year BAS deadlines from Mr Matthew Addison, Executive Director of the Institute of Certified Bookkeepers.
To print a copy of this letter, please click here
10 August 2006
Mr Murray Crowe
Assistant Commissioner
Australian Taxation Office
Constitution Avenue
CANBERRA ACT 2600
Dear Mr Crowe
SUBMISSION
MONTHLY BAS DEADLINES
Following my submission to you dated August 3 concerning the deadlines and workloads applicable to businesses and bookkeepers I have been approached by a number of my members.
Their concern is that I didn’t not raise the issue that also applies for those businesses who are on a Monthly lodgement cycle for the BAS.
For a business and their advisors subject to monthly BAS requirements during the period of late June through to mid August a business in Australia must adhere to the following regulatory requirements in order to meet their obligations and avoid penalties or prosecution:
1) BAS for the month of May by June 21
2) Superannuation obligations for the year to be checked, reconciled and reported.
3) Final quarters superannuation to be paid before June 30 in order to receive tax deduction
4) Alternatively Superannuation amounts to be reconciled, paid and notified before July 28 in order to avoid penalty.
5) Final employee pay for the financial year.
6) End of year reconciliation of payroll, preparation of Payment Summaries and submission to ATO of yearly reconciliation.
7) BAS for June by July 21.
8) Preparation of end of year financial information, in conjunction with BAS work etc
SUBMISSION
Therefore in addition to our earlier submission in relation to the deadlines we would propose that the ATO allow those businesses on a monthly BAS cycle an extension for the lodgement of the BAS that applies for the month of June.
The submission date is currently July 21 and we would submit that an extension to the August 21 would be appropriate.
Please consider the above in conjunction with submission dated August .
Yours faithfully
Matthew Addison
Executive Director
