The Importance of Keeping Your ATO Lodgments & Payments Up to Date
The ATO may require small businesses to switch from quarterly to monthly GST reporting from 1 April 2025.
Who Will The ATO Target?
- Anyone who has a history of non-compliance
- Anyone who has missed/made late payments
- Anyone who has lodged a BAS late
- Anyone who reports GST incorrectly
This shift aims to help businesses meet their obligations and establish better financial habits.
Regardless of the change it is important to stay on top of your ATO lodgments and payments.
Benefits of Staying on Top of Your ATO Lodgments and Payments
- Improved Cashflow: Regular, timely payments allow for better financial planning and cash flow management
- Avoid Penalties and Interest: You’ll prevent costly late penalties and accumulating interest charges from the ATO.
- Peace of Mind: Knowing your tax obligations are met and you can focus on your business.
Need Help?
Do you need some assistance with managing your ATO lodgments and payments? Get in touch with LINK Advisors today. Call 07 3899 8311 for more information.
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General advice disclaimer
The information provided on this website is a brief overview and is general in nature. It does not constitute any type of advice. We endeavour to ensure that the information provided is accurate however information may become outdated as legislation, policies, regulations and other considerations constantly change. Individuals must not rely on this information to make a financial, investment or legal decision. Please consult with an appropriate professional before making any decision.