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Your March 2020 BAS will be the most important BAS ever - 26th March 2020
For
those businesses that have an Australian Business Number (ABN) and were
registered for the Pay As You Go system for Wages (PAYG W) as at 12 March 2020,
your March 2020 Business Activity Statement (BAS) will be the most important
BAS you lodge in a long time.
As you would be aware by now, the Federal Government will give eligible
businesses between $10,000 and $50,000 on your pre-June 2020 Activity
Statements and a
further $10,000 to $50,000 on your post-July 2020 Activity
Statements.
Called 'A Cash Boost', the amounts will vary depending on if you lodge Monthly
or Quarterly and on the amount of PAYG W reported at the W2 box on the Activity
Statement.
The Australian Taxation Office are already warning against artificial and fraudulent claims so we write to you to offer our assistance at reviewing and if needed, lodging the March 2020 activity statement. As part of the advice, we will give you a template which will visually outline how much of the Cash Boost you will receive and when. Some will be based on actual figures know at the time of lodging, some will be a best guess estimate. For those who usually prepare and lodge their own activity statements, there will be a nominal charge for this service, however we are confident you will see the value in the work we do and advice we provide.
If you have any questions about this matter, please contact us.
Stay well Australia, we are thinking of you.
AV Chartered Accountants - Committed to Your Business Success
Two convenient locations:
