What to bring/prepare to my BAS Lodgements with BB4u
BAS, Super and TPAR Lodgements Due Dates
BAS Quarterly Lodgement Due Dates
Quarter 1 = from 1 JUL - 30 SEPT - Due Date on 25 NOV
Quarter 2 = from 1 OCT - 31 DEC - Due Date on 28 FEB
Quarter 3 = from 1 JAN - 31 MAR - Due Date on 25 MAY
Quarter 4 = from 1 APR - 30 JUN - Due Date on 25 AUG
BAS/IAS Monthly Lodgement Due Date is on the 21 of the following month.
BAS Annually Lodgement Due Date is on the 31 OCT each financial year.
TPAR Annually Lodgement Due Date is on the 28 AUG each financial year.
SUPER Quarterly Lodgement Due Dates
Quarter 1 = from 1 JUL - 30 SEPT - Due Date on 28 OCT
Quarter 2 = from 1 OCT - 31 DEC - Due Date on 28 JAN
Quarter 3 = from 1 JAN - 31 MAR - Due Date on 28 APR
Quarter 4 = from 1 APR - 30 JUN - Due Date on 28 JULY
BAS Lodgements Checklist
Checklist for who is Using XERO Accounting Software
1. If you do your OWN Bookkeeping
Please make sure your Xero bank reconciliation is up to date until the end of the lodgement quarter.
Also remember to have your receipts uploaded either through Hubdoc or Xero Files, so I can cross check your bookkeeping and check the GST for each transaction.
Tips: if you are not sure how to reconcile a transaction, use the Discuss Box on Xero bank reconciliation to leave me a note. It is always better to not do something, then do something wrong - as it takes longer to find and fix an error.
2. If BB4u does your Bookkeeping
3. If you do PAYROLL
Please make sure to have your receipts uploaded either through Hubdoc or Xero Files, so I can cross check your bookkeeping and check the GST for each transaction.
If you do Payroll on your Business, you have to make sure your payroll is up to date before the Lodgement due date (see dates above), prior BB4u could process either:
● your BAS quarterly lodgement (GST + PAYG), or
● your IAS monthly lodgement (PAYG), and
● your Super quarterly lodgement
Tips: If you have problems with your payroll, please let me know in advance, by sending an email to services@bb4u.au, so I allocate enough time to look into it.
Important: if you require BB4u assistance on your payroll processes, including Payroll preparation, File with ATO, STP finalisation, you must sign an Authorisation agreement with BB4u. If you have not done so, please request it to admin@bb4u.au.
Checklist for who is Not using an Accounting Software
1. Sending documents Requested for your BAS
Please provide prior to our meeting the following documents:
● the Bank Statement in PDF or CSV format for the whole period of the BAS Lodgement (see dates above for Monthly, Quarterly or Annually);
● your Expenses Receipts so I can cross check your bookkeeping and check the GST for each transaction;
● If you have a Excel Spreadsheet where you have been saving all your financial information.
You can provide the documents through:
Share icloud location to services@bb4u.au
Motor Vehicle Information - for everyone!
For those who can claim Motor vehicle expenses - and would like to claim the GST from the receipts, must have a current Motor Vehicle Logbook - to track your kms used for business x personal, you can use the app Drivers Note. See more info about this method on the FAQ page.
Even if your Motor Vehicle is registered for business, you still need to substantiate your expenses by maintaining all your receipts and your valid logbooks.
If you are a Sole Trader and have an UTE that holds more than 1 Tonnes or a Van, then you must use the Actual Cost Method. All receipts must be kept to substantiate your claims, and a diary showing the Kms made for private use (if applicable).
For small Companies and Trusts, the Actual Cost Method must be used. Please note that using Business assets for private use will result in a Fringe Benefit Tax, which is an extra lodgement that needs to be done in April each year at 47% tax rate.
For those who can claim Motor vehicle expenses - and would like to claim the GST from the receipts, must have a current Motor Vehicle Logbook - to track your kms used for business x personal, you can use the app Drivers Note. See more info about this method on the FAQ page.
Even if your Motor Vehicle is registered for business, you still need to substantiate your expenses by maintaining all your receipts and your valid logbooks.
If you are a Sole Trader and have an UTE that holds more than 1 Tonnes or a Van, then you must use the Actual Cost Method. All receipts must be kept to substantiate your claims, and a diary showing the Kms made for private use (if applicable).
For small Companies and Trusts, the Actual Cost Method must be used. Please note that using Business assets for private use will result in a Fringe Benefit Tax, which is an extra lodgement that needs to be done in April each year at 47% tax rate.
Subcontractors Information - for everyone!
If you pay subcontractors (someone who works for you on ABN), then you must have a list of their full names, their ABNs and amount paid to each one. Only the Subcontractors that are registered for GST that you an claim GST on your expenses.
Tips: always check the ABN from your subcontractor. If they do not supply you with an invoice, do not pay them, otherwise might have some tax implications for you.
Bills / Receipts - for everyone!
Please keep a copy of all the Receipts you wish to claim on a digital form.
You can use the app My Deductions from ATO to keep these receipts - more info about this method on the FAQ page.
Please note - we will have to assess what you can or cannot claim during our meeting, based on your employment condition or profession and the GST status on your suppliers.
Important: your receipts must be kept for a period of 5 years!
Downloading Bank Statements from Commonwealth Bank or Mobile App
Download via CommBank App (Mobile)
Log in to the CommBank app.
Tap “Accounts” and select the desired account.
Tap the settings cog or “Manage Account”.
Tap “Statements”.Select the statement period you wish to download.
Tap “Download” to save the statement as a PDF.
Download via NetBank (Desktop)
Log in to NetBank with your client number and password.
Click on “View accounts”.
Select “Statements”.
Choose your account from the list.
Select the statement period you wish to download.
Click “Download”to save the statement as a PDF.
For exporting transactions in CSV format (ideal for Businesses and Sole Traders):
Choose the account you want to export transactions from.
Click on the dropdown box labeled ‘Date’ next to the search box and enter the required time period (up to the last 2 years).
Click “Export” and select the CSV format.Click “Export” to download the file.
Substantiation of Deductions
Documents (such as invoices and receipts) that the taxpayer acquires from the supplier must set out the:
● supplier's name or business name
● amount of the expense or the cost of the asset, expressed in the currency in which it was incurred
● nature of the goods, services or asset
● day on which the expense was incurred or the asset was acquired
● day on which the document was made out.
Where the documents supplied are insufficient, ATO may accept the following documents (or combinations of documents) as acceptable evidence of expenses:
● bank statements
● credit card statements
● email receipts; payment reference numbers (such as BPAY, Post Billpay, PayID, Poli, and so on), combined with bank statements or tax invoices.
Please note: If payments are made by cash, and no receipts are shown, the expense won’t be able to be deducted.
