Anyone do their own BAS statements?

[Boo Boo]

and can answer some really stupid questions that I just can't seem to figure out?

Thank you x

[OceanPrincess]

I do, fire away.

[Boo Boo]

do you include at W1 - total payments - salary, wages & other payments

the super contribution amount or is it only gross quarterly salary less 9% super ?

[Boo Boo]

If super isn't included at W1 is it included anywhere else.

Also, W2 - Amounts withheld is the tax calculated on the gross salary or gross salary less super?

Thank you so much , my brain isn't working.....

[OceanPrincess]

Are you completing it totally by hand or do you use a computer package? Let me just check my last BAS...

[OceanPrincess]

Ok W1 is gross wages. Including tax. W2 is PAYG tax. Nothing to do with super.

Super is calculated and paid separately, either to your super fund or to the ATO directly.

How super is calculated: 9% of gross ordinary time earnings (OTE). What defines "OTE" in your industry will be different to others. I'm doing payroll for the electrical industry so overtime and other forms of hour-based pay are included (higher duties for example), but allowances are not. So I've set up my payroll system to calculate OTE for me and every quarter it spits out a super report telling me to pay X amount to the industry fund that our employees use, $A for Employee 1, $B for Employee 2, etc.

So for the purpose of the BAS, don't even think about super.

Think of super as being an employer expense that doesn't really come into the employee's pay at all, that might help. So keep it separate from the BAS. The BAS is all about tax - goods and service and pay as you go taxes. How much tax have you paid, how much do you need to pay, do you need to pay the ATO or do they owe you some back? It's tax driven.

Does that make sense/help?

[Boo Boo]

doing it online on the ATO site...

[MantaRay]

Boo, the definitions are all there if you use the help feature. You can also ring the ATO to ask questions if you need to.

[Jennifer13]

This is so why I use an accountant... I find the month to month accounts enough!

And guess what I'm doing this weekend. Urgh.

[OceanPrincess]

And that's why I use MYOB... Get the accountant to do all the set up, then each quarter just press a button and copy the figures onto the sheet to go to the ATO... Voila!

[Boo Boo]

Thanks ladies, it is a really simple BAS statement, just one employee, you would think I would be able to do it....but...duh, baby brain has bitten me again...and I did Accounting at uni, I am seriously embarassed at my lack of know-how. But, I have submitted to the ATO so hope all is okay. x

[~*familyof3*~]

My dh does bas spends ages on it and says its quite stressful.....or may the stress is the book balancing hmmm lol

pls excuse the spelling mistakes on my galaxcy