01 Sep 14 Big businesses need to lodge and pay electronically
The ATO advises that from 1 September it will be contacting some businesses, or their registered contacts, about the need to lodge and pay electronically to avoid penalties.
The ATO will discuss the various ways to lodge and pay electronically. Businesses with a GST turnover of $20 million or more are required by legislation to:
- lodge their business activity statements electronically
- pay their tax debts electronically.
The ATO says that where businesses do not lodge or pay electronically, they can be subject to a penalty, which is currently $850 per event.