Made an honest mistake on your activity statement?

f you’ve made a mistake or left something out on a previous activity statement, in most cases you can simply correct the error on your next activity statement or lodge a revised statement.

You can do this:

  • though myGov
  • on the Business Portal
  • from your business software if it is enabled for Standard Business Reporting (SBR)
  • by phoning us on 13 28 66 to get a revision form.

You need to correct mistakes within four years.

We know that most people do the right thing. To keep a level playing field for small businesses who do the right thing, we take stronger action against people who deliberately try to cheat the tax and super system.

Recently a company director was sentenced for making false claims in their activity statement and creating false supporting evidence.

Do you provide benefits to your employees?

Fringe benefits tax (FBT) is payable on certain benefits you provide to your employees or their associates. These benefits are in addition to, or part of, your employees’ salary or wages package.

FBT is separate from income tax and is calculated on the taxable value of the benefits provided to employees.

Examples include providing your employee (or someone close to them) with:

  • vehicles for private use
  • holiday accommodation
  • concert tickets
  • memberships.

Some benefits are exempt or receive concessional treatment, so it’s good to brush up on what benefits attract FBT.

When to report?

The FBT year ends on 31 March.

If you’ve provided any fringe benefits since 1 April 2018, you need to:

  • calculate your fringe benefits taxable amounts
  • lodge and pay your FBT return by 21 May (or lodgment may be later if you use a tax agent).

Remember, registered tax agents and BAS agents can help you with your tax.

Why Do I Need To Use Financial ?

But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure.

  • Customer experience, which includes the impression the homepage and overall design style give the customers their satisfaction when they interact with the site and perform tasks.
  • Service-level, which looks at responsiveness and reliability of websites – scores them on how quickly they respond to user commands and such factors as average downtime.
  • Best practices, such as ease of use, quality, availability and security – site managers must be compliant with data laws requiring them to protect customer information and the integrity of customer accounts.