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JacH(Initiate)Initiate
3 June 2021

Hi there!

Can you please advise on what basis to report STP if a Company Director takes one wage payment a year in June (based on the year to date profit) and this is recorded and PAYGWH paid on the June BAS.

Would they only be required to lodge a quarterly report in the final quarter of the year when the funds are actually paid (actual by pay date method) or are they required to use the estimation method each quarter even though they haven't physically taken ANY funds from the company during the year.

Would appreciate your advice.

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_Matthew-at-ICB(Devotee)Registered Tax Professional
6 June 2021

That true once a year wage would have a pay date of 30 June so the theory goes you report on or before 30 june.

However it seems, subject to further ato info, you could lodge zero "actual" for the quarter for 3 quarters and then the real Actual for the june quarter - which would have the extended lodgement date being the same as the June BAS.

So no you DO NOT have to use the quarter method. On or before payday (ie the normal reporting method) is preferred.

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Most helpful reply

_Matthew-at-ICB(Devotee)Registered Tax Professional
6 June 2021

That true once a year wage would have a pay date of 30 June so the theory goes you report on or before 30 june.

However it seems, subject to further ato info, you could lodge zero "actual" for the quarter for 3 quarters and then the real Actual for the june quarter - which would have the extended lodgement date being the same as the June BAS.

So no you DO NOT have to use the quarter method. On or before payday (ie the normal reporting method) is preferred.

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