Catching up on overdue super fund returns

The Australian Tax Office has warned it is about to get tough with SMSF trustees for failing to comply with the strict compliance rules. If your SMSF or DIY super fund has fallen behind, don’t panic. The most serious penalties are reserved for cases of fraud. But you need to take action now and show … Read more

BAS statements for a closed business

If the ATO issues a document, such as a business activity statement (BAS) then they expect it to be lodged on time, and any payment made in full. You cannot just ignore BAS statements because your business: has ceased to operate no longer has turnover over the GST threshold, currently $75,000 It is up to … Read more

How to lodge a BAS in two minutes

You know how most small business owners hate paperwork and tax? Well, what we do is help them reduce both. In fact, we recently met a small business owner who used to have to allocate a whole day each quarter to doing his BAS. We showed him how to do it in 5 minutes AND … Read more