Pay your tax on time and save

Tips you can use to smooth out your cash flow and ensure you're on track to pay your upcoming BAS.

Why pay more than you need to? When you meet your tax obligations in full and on time, you’ll avoid paying unnecessary interest (currently 11.38%) and penalties.

With that in mind, here are some tips you can use today to help you smooth out your cash flow and ensure you’re on track to pay your upcoming April-June quarterly BAS on time.

Tip 1: Set up a separate bank account for pay as you go (PAYG) withholding, employee super and GST.

Tip 2: Avoid the temptation to use PAYG withholding, employee super or GST as cash flow.

Tip 3: Boost your cash flow knowledge by taking advantage of these free online tools:

Access the learning platform specifically designed for small business at Essentials to strengthen your small business.
Find cash flow resources at business.gov.au/finance/cash-flow.

Take control of your cash flow now so you don’t pay more than you need to – make paying your tax on time a habit for your business.

Your tax professional can help you work out the best strategies for your business or help if you’re experiencing financial difficulties. You can also contact us if you need support.

Our commitment to you

We are committed to providing you with accurate, consistent and clear information to help you understand your rights and entitlements and meet your obligations.

If you follow our information and it turns out to be incorrect, or it is misleading and you make a mistake as a result, we will take that into account when determining what action, if any, we should take.

Some of the information on this website applies to a specific financial year. This is clearly marked. Make sure you have the information for the right year before making decisions based on that information.

If you feel that our information does not fully cover your circumstances, or you are unsure how it applies to you, contact us or seek professional advice.

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Australian Taxation Office for the Commonwealth of Australia

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