Date posted: Wednesday, February 5, 2014
Now that you’ve read our handy table on this financial year’s BAS deadline dates, we bet you’re asking yourself ‘what happens if I don’t get my BAS in on time?’
To put it simply, if a business doesn’t lodge their BAS before the specified dates, the ATO may issue a failure to lodge penalty.
While your next question may be ‘how much are the penalties for getting your BAS in late?’, fines differ based on the size of the business, the length of delay in lodging and the lodgement history of the business.
If your business is unable to pay their tax instalment on time, they are still required to lodge an activity statement by the specified deadline. For companies in this position, a deferral of payment or payment arrangement is possible.
Still have questions? You can find out more by giving us a call, sending us an email or booking in for a visit. We specialise in servicing individuals and businesses within the Cardinia Shire and outer south-east suburbs including Pakenham, Berwick, Cranbourne, Officer, Beaconsfield, Garfield, and Drouin.
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