Scrutinising your BAS will keep the ATO at bay.

Australasian Business Intelligence, June, 2002

Jun 05, 2002 (Australian CPA

ABIX via COMTEX) -- On 1 July 2002, the Australian Taxation Office's (ATO) goods and services tax (GST) will enter its third year. While the ATO will continue to assist new businesses, it will be less patient with those experienced in the system that continue to make errors on their returns. Small businesses need to take considerable care when preparing their business activity statements (BAS). Businesses that prepare their own BAS need to check that calculations are correct and that extraordinary items are accounted for. Otherwise, they risk fines and the repayment of taxes.

Publication Date: June 2002

AUSTRALIAN TAXATION OFFICE

By Judy Hartcher

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