A.S.A.P  Accounting & Taxation 

(02) 4578-6088

header photo

Tax & Business Services

ASAP Accounting & Taxation can help you navigate the accounting and tax responsibilities that come with running a business. We can advise you on the best structure to set up your business. We can also assist you in the setting up of a Company, Partnership, Trust or Self-Managed Super Fund.

Our team is experienced and dedicated to providing timely and proactive solutions for all your accounting, taxation and business needs. In fact our experience covers the whole realm of tax and associated accounting and business advisory, from compliance to growth and tax-effective strategies. 

Reducing Tax by Maximising Tax Deductions

The First thing to know is: What is a tax deduction?

The ATO criteria and definition of a tax deduction is:

  1. It must be spent
  2. It must be necessarily incurred in earning your income.

A definition we use is: A tax deduction is an expense that is related to your income.

No matter how complex the system becomes with new taxes and different laws, fundamentally the basic formula applies; whenever you spend money to make money that's a tax deduction, but only if you were making money first!

"Willingness to look outside the box is required by both you and us."

The size of your tax deductions is directly related to your ability to know and track all your expenses.

Using our definition of a tax deduction, you can easily determine if an expense is a tax deduction or not. If you're unsure, then by all means ask us. A proactive accountant is one who works with you to really maximise your deductions, but it is up to you to first make sure you've tracked and included all possible expenses. If you don't tell ASAP Accounting & Taxation that you spent $100 on tolls or include it in your bookkeeping, how will it ever be deducted?

The simple act of seeing how an expense could legitimately be related to your income producing activity is the key and it also, incidentally, gives you a great index as to the pro activeness of your accountant. ASAP Accounting & Taxation are willing to try and see how an expense can be related we don't just dismiss the "tricky" ones without regard.

For example, if your job entailed a considerable amount of time working outdoors then safety sunglasses could be a related expense. But you'd have a tough time relating sunglasses to an office job!

Therefore, willingness to look outside the box is required by both you and ASAP Accounting & Taxation.

The first step, however, is to record the sunglasses as an expense. If you're ever in doubt as to whether an item is an expense or not, include it in your bookkeeping and nut it out with ASAP Accounting & Taxation at tax time. If you fail to record it in the first place then you've lost the opportunity to claim it altogether.

So part of being an investor or business owner is making that extra effort to record and claim all that you legitimately can. After all, you've worked for the money and by organising your paperwork you'll be able to keep that little bit extra in your back pocket!

So don't forget to stop and ask yourself "How can this expense be legitimately related to my income?" 


Lodgement & Payment Due Dates


Table: BAS agent concessions - monthly lodgment obligation

Monthly lodgment obligation

Due date

BAS agent concession for lodgment and payment if lodging by the BAS Agent Portal, PLS or ECI

Activity statement

21st of the following month


The electronic lodgment and payment concession does not apply to standard monthly activity statements.

December activity statement

21 January

21 February – December monthly business activity statements for business clients with up to $10 million turnover who report GST monthly and lodge electronically using a registered agent.

Table: BAS agent concessions – quarterly lodgment obligation

Quarterly lodgment obligation

Original due date

BAS agent concession for lodgment and payment if lodging by the BAS Agent Portal, PLS or ECI

Quarter 4, 2016–17

28 July 2017

25 August 2017

Quarter 1, 2017–18

28 October 2017

25 November 2017

Quarter 2, 2017–18

28 February 2018


The Quarter 2 lodgment due date is more than eight weeks after the end of the quarter, which is similar to the electronic lodgment concession available for the other three quarters. As a result, lodgment concessions are not available for Quarter 2.

Quarter 3, 2017–18

28 April 2018

26 May 2018

Quarter 4, 2017–18

28 July 2018

25 August 2018

To be confirmed when the BAS agent lodgment program 2018–19 is developed.

Do You Need to register for GST?

You need to register for GST if you run a business or enterprise and your GST turnover is $75,000 or more ($150,000 or more for non-profit organisations).

If you're not registered for GST, check each month to see whether you've reached the threshold, or are likely to exceed it. If you're turnover exceeds the relevant threshold, then you must register within 21 days of reaching it.

ASAP Accounting & Taxation can help you register when you first register your business or at any later time.

2018 Hot Spots

  1. Home office Expenses
  2. Mobile Phone Claims
  3. Over Time Meal Expenses
  4. Benchmarking - Cash Econemy
  5. Contractors V's Employees
  6. Tools of the Trade

Checklist of Business Deductions

Weekley Tax Table 2018/19