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Are there any penalties for not lodging a BAS statement?
1.29K views
Yee Trinh, Cofounder at SavvySME
If you don't lodge your BAS on time, the ATO could charge you a late payment penalty. For small businesses one penalty unit is $222 (as of 1 July 2020) which is added every 28 days after the statement due date. If you've been charged a failure to lodge (FTL) penalty and you lodged your BAS through a registered BAS agent, you usually don't need to pay it if you can prove that you gave the agent all of the required info to lodge your BAS on time.
The last thing you want to do is avoid contacting the ATO. If you can't lodge on time or need a payment extension just give them a call as you may be eligible for an exemption or payment plan.
Rebecca Carroll-Bell at RCB Mediation Services
I am about to redesign my site for the third (? fourth maybe?) time in 15 months. It is not giving me the results I am after, I am DIYing, constantly learning and evolving, and while I was happy with my site 6 months ago, now I realise how much better it can be.
Also, I will be launchign my first Google Adwords campaign later in the year so will optimise the site for that too.
Steve Osborne , director at Stephen Roger Osborne
Rebecca, Have your redesigns been major or minor? Complete changes to the structure or tweaks to an existing format? What made you realise you weren't getting your desired results? How did you define what results you wanted? What strategy did you adopt/change to get you where you want to be?
Steven Freeman at Evolved Sound
Among many relationships your marketing spend needs to be viable enough to return a justifiable accountable profit. By keeping a close eye of the two, can help you stay on track.
Cliona Elliott, SEO Copywriter at Intrepid Travel
SEO is just as important for accountants and bookkeepers as it is for businesses in other industries. If you are providing bookkeeping and accounting services in local areas, SEO can help you target and attract local clients and increase your brand awareness. Research by Backlino shows that the first organic search result on Google has an average click-through rate of 31.7% and is 10 times more likely to get a click than the result in 10th place. The high-ranking sites are there for a reason, i.e. Google has established that these sites are authoritative, credible and deserving of ranking at the top. Moreover, if you rank higher than your competitors, you’re in much better stead to win clients.
Some SEO tips for bookkeepers and accountants include:
Create a blog to demonstrate thought leadership in your field. Creating high-quality and share-worthy content may also help you build backlinks to your site.
Create social media accounts for your business and share your blogs.
Conduct keyword research to identify the key bookkeeping/accounting terms and queries your target audience is searching for. This will help you inform and structure your website content.
It’s definitely worth setting aside a few hours each week to invest in optimising your website SEO. If you have the budget, you can also consider outsourcing to an SEO agency.
Brian Mallyon, Owner at Luckypole Limited
I think it is important to look further than the headlines. China's economy is changing, but not necessarily as a manufacturer.
Stats. I have seen usually show that manufacturing goes through cycles of surges and declines depending on a whole range of things like seasonal aspects as well as the state of the world economy. Amongst those surges when times are good China generally rallies faster and when times are bad China generally slows off slower.
What may be in place is that more labour intensive industries such as those in textiles are moving away due to higher wages, whereas China is aiming for more advanced manufacturing.
I reckon China will still be THE worlds manufacturer for a long while yet.
Cliona Elliott, SEO Copywriter at Intrepid Travel
Running a business comes with a lot of expenses, but the good news is that many of these expenses are tax deductible (including bookkeeping which is part of the tax-related operating expenses category). These expenses are sometimes referred to as revenue or working expenses. Examples of bookkeeping expenses you may be able to claim include fees/costs relating to:
Bookkeeping services to prepare your business records
BAS and income tax return preparation and lodgement
Assessment appeals
ATO audits (e.g. preparing your documents and representation on your behalf)
Professional tax advice
You can claim most expenses related to running your business if:
The expenses were incurred in the corresponding financial year
They are directly linked to running your business
The expense was for your business, and not for personal or private use (for any expenses that were for both business and personal use, you can only claim the part used for business purposes)
You have records to evidence the expense (e.g. receipts, invoices, etc).
Of course, it’s always recommended to consult with a registered accountant or tax agent to get clarity on what you can and can’t claim in your income tax return. Many expenses are overlooked by business owners and they end up missing out.
You can get more info on tax deductible expenses on the ATO's website: https://www.ato.gov.au/Business/Income-and-deductions-for-business/Deductions/Deductions-for-operating-expenses/
Phil Khor, Founder at SavvySME
Hi Kellie,
To add a bit more context, can you expand on what you mean by "blind recruitment", and specifically why you're thinking of adopting this strategy for your business?
I know for certain businesses or positions e.g. modelling agencies, hiding some or all of the candidate's details doesn't make sense.. but for others, there may be merits in doing so, I guess it just depends on your business and what you're trying to achieve.
Lauren Hutchin, Founder/ business manager at My Marketing Friend
Hi there,
Like John mentioned, it really does depend on your business.
Themes like Valentines Day are predominantly suited to businesses that directly relate to gifts and activities a consumer would purchase or be involved in specifically for Valentines Day. Examples of business who would benefit by engaging in marketing activities based around a Valentines day theme would be:
-Florists
-Chocolatier/sweets company
-Overnight stay venue
-Restaurants
-Jewellery stores
For marketing to be successful you will need to have a specific goal.
If I had a florist, I would advertise my business widely and make my business top of mind for when Valentine's Day approaches.
How? Again, depends on your business and your market. Think of ways to stand out and don't get lost in all of the advertising clutter.
Feel free to reach out for specific help!
Not a podcast, but he has great, short videos on YouTube - search Brian Dean.
Does anyone know how much Nova FM charges for radio ads?
1.48K views
Justin Gil, Social Media Manager at The Foodie Basket
Does anyone know the cost of advertising rates on Nova FM?
That’s a good question! The rate Nova FM charges you for a 30 second radio ad depends on the city you’re in.
City | NOVA FM COST |
Perth | $325 |
Adelaide | $325 |
Brisbane | $325 |
Melbourne | $450 |
Sydney | $425 |
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