From 1 September 2014, the ATO will be contacting some businesses, or their registered contacts, about the need to lodge and pay electronically to avoid penalties. The ATO has reminded businesses with a GST turnover of $20m or more that they are required to lodge their BASs electronically and to pay their tax debts electronically. Where businesses do not lodge or pay electronically, the ATO said they can be subject to a penalty, which is currently $850 per event.
[LTN 167, 29/8/14]