Set up your business correctly to avoid unnecessary legal costs:
If you are a business registered for GST you need to lodge a business activity statement (BAS). Your BAS will help you report and pay your:
Goods and services tax (GST).
- Pay as you go (PAYG) instalments.
- PAYG withholding tax.
- Other taxes.
When you register for an Australian business number (ABN) and GST we will automatically send you a BAS FORM when it is time to lodge. Lodge through your tax or BAS agent. If you have a registered tax or BAS agent they can lodge, vary, and pay on your behalf through their preferred electronic channel.
When you use an agent:
They can view activity statements sent to your myGov Inbox. You can still access your activity statement through the Business Portal or myGov even if your agent is managing them on your behalf.
Expecting a refund?
If you have an Australian business number (ABN) we will pay refunds directly into your nominated financial institution account. Generally, this account needs to be at an Australian bank and held either:
In your company, business or trading name (this can also be held jointly with another business or individual) By a registered tax agent.
The ATO is working towards improving the payment options available, but for now:
the ATO can’t pay using a PayID
refunds from the ATO will not be real-time.
Changing your account details
You can change your account details:
By phoning us on 08 6162 9808 If you can’t lodge and pay on time.
We understand that there may be a time when you are unable to lodge or pay by the due date. If you are having difficulty, we can help. Contact us as soon as possible before the due date and we will work with you to find a solution.
It is important to remember that it is your responsibility to meet your obligations, even if you use a tax agent. You can have an authorised representative or your tax agent contact us to discuss your situation.
A penalty may apply if you fail to lodge on time, so even if you can’t pay, lodge on time to avoid this extra cost.
Usually, if you can’t pay by the due date, you can enter into a payment plan. Use our online payment plan estimator to work out a payment plan you can afford. You can also use it to find out how quickly you can pay off a tax debt and how much interest you’ll be charged. A general interest charge (GIC) will apply to any amount not paid by the due date. Once you have worked out a suitable payment scenario based on your circumstances, you can use it as a guide to set up a payment plan.
Fuel tax credits:
As a business, fuel tax credits provide you with a credit for the fuel tax (excise or customs duty) that’s included in the price of fuel used in:
- machinery
- plant
- equipment
- heavy vehicles
- light vehicles traveling off public roads or on private roads.
The credit amount depends on:
- when you acquire the fuel
- what fuel you use
- The activity in which you use it.
Fuel tax credits rates change regularly so it’s important to check the rates each time you do your BAS. Before you can make a claim, you must be registered for GST and fuel tax credits.
Still Have a Question?
Feel free to contact with us.