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2023 September Quarter BAS
Hi everyone,
I’m currently overseas and my accountant helped submit my BAS to the ATO for the 2023 September quarter. I received an email from him showing me the following:
The GST payable was as expected.
The Income Tax instalment owed to the ATO was $0, even though previously it was a non-zero balance which I had sent an acceptance for value by a money order drawn from my personal trust with the government.
The Estimated Income Tax for the year was $0.
The reason offered by the ATO for the variation in the Income Tax is “Current business structure not continuing”.
Has anyone seen this before? Can someone tell me what is going on?
I am back in Australia in 10 days’ time.
God bless,
Brian
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2 Replies
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Hi Brian, I made contact with ATO last week responding to a letter sent, to find out what they required to complete my assessment for 2023. The agent stated that there was some income on the lodgement form (Less than the $18200 threshold) she then asked me would I like to remove the income so they could finalise the assessment, i asked WHY, would they zero it ,if it is below threshold anyway, and I would still get payg payments back. Unless they are looking for a reason to audit folks.
It seems a bit strange. Not sure what these guys are up to.
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They’re probably trying to lay out some bait to try to stop people using the living man and woman argument to reduce taxes.
Government coffers are low I reckon. They’re digging hard.
I’m a bit stressed about what they can do but I reckon we just have to keep each other informed to build the right legal documentation.
God bless,
Brian
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