Remember to Check the Next BAS Deadline to Avoid Penalty Fee!

The BAS deadline is the deadline for submitting the Business Activity Statement (BAS) to the relevant tax authorities. This specific deadline is for the 23 Dec quarter BAS, and the due date will be 28 Feb 2024. It is important to meet this deadline to ensure compliance with tax regulations. Adhering to the BAS deadline is crucial for submitting the BAS accurately and within the specified timeframe. Failure to meet the deadline may lead to penalties or legal consequences. Hence, it’s critical to get your finest accountant to assist in problem-solving!

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The government launched a land-penalty amnesty program for small enterprises on 9 May 2023, as part of the 2023–2024 budget, with the goal of encouraging them to get their tax responsibilities current and get back in touch with the tax system.

Key to Take Away

Quarter – Period Covered – Legislative due date

Quarter 1: 1 Jul to 30 Sep – due date 28 Oct 2023

Quarter 2: 1 Oct to 31 Dec – due date 28 Feb 2024

Quarter 3: 1 Jan to 31 Mar – due date 28 Apr 2024

Quarter 4: 1 Apr to 30 Jun – due date 28 Jul 2024

Meeting the BAS deadline is crucial for accurate and timely submission, as failing to do so can lead to penalties or legal consequences. Understanding and adhering to the BAS requirements ensures tax compliance and minimizes potential issues. Specifically, it is important to meet the deadline for the December 23 quarter BAS to ensure regulatory compliance and the smooth functioning of your business.

To help ease the burden, We recommend contacting our qualified Kingsman Accountants.

+61 2 8011 4699

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