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Date Posted: Monday, February 07, 07:39:23am
Author: Colin
Subject: Re: Trouble coping with BAS payments
In reply to: Businessman 's message, "Trouble coping with BAS payments" on Friday, February 04, 07:40:50am

One suggestion is to open a separate GST Provision account. Some banks offer this no-fee service to business clients of theirs.
Each week you could calculate how much GST you have collected, and PAYGW you have retained, and transfer this money into the account.
If you can manage to do this, you would probably find ample available funds in your account for your BAS payment.
Doing this sort of a thing can also serve to remove the temptation to potentially spend unnecessarily from your trading account.

Just one suggestion for you to consider. Good luck!

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