Tips to speed up BAS refunds

June 23, 2014

123rf - BAS refundThere are many problems that occur when processing activity statements and tax returns that can lead to a delay in the ATO issuing refunds.
 

However, these problems are often caused by small issues and can be easily avoided.
 

Here is a list of tips to help minimise some of the issues that can prevent a speedy tax refund:
 

• keep personal details, such as postal address, bank details and authorised contacts, updated
• lodge all outstanding activity statements as the ATO are unable to process the refund until they know the extent of the credit
• keep good records and hold onto receipts
• keep the statement clean. This involves not writing notes outside the space provided, do not use symbols and show whole dollar amounts only
• do not double up by lodging both online and in person
• refer to a specialist if the process is complex

 

Our accountants are at hand to deal with any questions or queries you may have regarding this article of your business and personal accounting needs.
Call (02) 4926 2300 or email us.

 

Disclaimer.
 

To discuss your BAS and tips for your BAS refunds, please do not hesitate to give the professional and friendly team at Leenane Templeton a call.

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