Frequently Asked Questions
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If you annual turnover is expected to exceed $75,000, you are required to register your business for GST. This can be done online, by phone, or through a registered Tax or BAS Agent. For further details on GST registrations, visit the ATO website.
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If your business is registered for GST and your turnover exceeds the $75,000 threshold, you are required to lodge a Business Activity Statement either monthly, quarterly, or annually depending on your circumstances. For assistance with filing your BAS, speak with a registered BAS Agent who can provide you with tailored guidance based on your business needs.
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To ensure compliance with tax, superannuation and registration obligations, the ATO provides guidance on 5 Rules for Record Keeping.
Keep copies of all business-related records for tax purposes.
Preserve and protect unaltered records.
Keep records for a minimum of 5 years.
Ensure records are accessible and secure.
Records must be in English or easily translatable into English.
Contact Us
If you’re seeking expert advice or looking to engage a bookkeeper, don’t hesitate to get in touch with our friendly team. We’re here to assist and woudl be happy to discuss how we can support your business needs.
Contact us today!
admin@steadyaccounting.com.au
0494 350 568
