GST & Taxes

GST Registration The ATO (Australian Taxation Office) has classified bodies corporate / strata plans as ‘not-for-profit’ entities as income is not expected to be distributed to Owner's. This means the GST registration threshold for strat...

GST Setup is used to review / amend GST accounts and / or GST Reporting Style. The setup can be completed from the Base Building, which will then be used for creation of all new buildings, or in a local building, that may require a varied setu...

There are a number of different tax codes setup within StrataMax which can be maintained with the Edit Tax Rate List feature.  The default tax codes may be edited if the tax rates should change and can also be added / deleted when applicable. ...

The Information recorded in BAS Info Editor relates to income tax that is expected to be paid for the current period, based on the last lodged income tax return.  This tax type can be lodged / paid on a BAS or IAS as detailed below. B...

The instructions in this article relate to Business Activity Statement.  The icon may be located on your StrataMax Desktop or found using the StrataMax Search . GST Conversion Account is an account used to record the GST amount...

The instructions in this article relate to GST Balances Adjustments .  The icon may be located on your StrataMax Desktop or found using the StrataMax Search . When registered for GST, transactions created will u...

Wages and salaries are not to be included as acquisitions but are required for reporting. To achieve this the 'Wages' account must be set with the 'Tax Code' of '05 Wages'. This account should contain the Net Amount of wages paid (i.e. excluding tax...

This article covers the reports that may be useful when reporting for the tax year to assist with lodging an income tax return. There are two reports available specifically for tax year end. The information in each is automatically stored at mont...

The instructions in this article relate to ATO SBR Client.  The icon may be located on your StrataMax Desktop or found using the StrataMax Search . The ATO SBR Client is an integrated module designed to assist with the ...

The ATO has two accounts for most Australian Business Numbers (ABN).  One for the lodgement for BAS and one for lodgement for ITR (Income Tax Returns).  The two accounts will have different reference numbers, be wary of this when making a payment, i...