End of September quarter 2014 ATO activity statements

ATO activity statements will be due on 28 October 2014 for those who lodge and pay on a quarterly basis.

These first quarter statements need to be considered carefully because they provide some clients with an opportunity to choose the most advantageous PAYG instalment payment method. They will also reflect recently enacted personal income tax rate increases for those with a taxable income exceeding $180,000.

At its most basic level, tax is about managing cash flow.

Reviewing your activity statements on a regular basis is one way to help identify opportunities to reduce tax outlays now, rather than waiting for refunds on lodgement of the annual tax return.