As in any business, cash flow is a necessity. Having your business activity statement (BAS) refunded to you quickly is important as a small business owner.
Here are a few tips to follow to help speed up this process:
• Ensure information is complete and correct; keep personal details, such as postal address, bank details and authorised contacts updated. Having a record keeping system in place is the best way to stay on track.
• Submit BAS on time.
• Lodge all outstanding activity statements: the ATO are unable to process the refund until they know the extent of the credit or liability.
• Check financial institution details are entered correctly.
• Be careful not to not double up by lodging both online and in person.
If you have any queries please do not hesitate to contact our office on (03) 9728 1448.
TAS Tailored Accounting Solutions
This publication is for guidance only, and professional advice should be obtained before acting on any information contained herein. Neither the publishers nor the distributors can accept any responsibility for loss occasioned to any person as a result of action taken or refrained from in consequence of the contents of this publication