What Is GST in Australia?
Business Activity Statements are the reports provided to the ATO to declare the business activity for a certain time period, commonly quarterly. What is GST in Australia?
POP reviews the income and expense business model and determines whether a cash or accruals method for GST reporting will provide a superior outcome. POP reviews the transactions in the online accounting software to ensure GST is maximised with all credits refunded that are due.
Instalment Activity Statements (IAS) report employee wages and withholding tax (PAYGW). POP leverages online accounting software to lodge these on the due date and ensure payment won’t be made until the due date to assist with business cashflow. Wages are generally reported to the ATO on a monthly basis.