Preparing a Business Activity Statement for PAYG Withholding
You can use the HQ BAS Process form to prepare a Business Activity Statement (BAS) for PAYG withholding. Typically, you will be reporting your withheld amounts on a quarterly basis to the Australian Taxation Office (ATO).
- Set up your company information for the current tax year in HQ ATO Tax Years.
- Open the HQ BAS Process form. It defaults to the current tax year as specified in HQ ATO Tax Years.
Enter a new sequence number
in the Sequence field. You can also enter New ,
N , or + to
use the next available sequence number.
Note: Each time you create a BAS for reporting, you must use a new sequence number. By creating a new sequence number, you can report amounts specific to the quarter (or other specified time period) rather than for the whole year.
- Set up your general BAS information in the following fields: Form Due On, Payment Due On, Contact Person, Contact Phone, GST Acct Method, Signature, Date, Return this completed form to, Hours, and Minutes. For more information on a specific field, see the F1 help.
On the PAYG tab (PAYG
Withheld section), enter a reporting month range in the
Note: Before preparing a BAS for PAYG withholding, make sure that accumulations are updated for the reporting range. See Running Ledger Updates for more information.Note: If you are running a partial summary for a time period that was prior to going live on Vista™ by Viewpoint, and you have entered your balance forward amounts in PR Employee Accumulations, you are limited to one payment summary for the period between July 1st through your go-live date.
- Enter amounts where an ABN was not quoted to you by a supplier in the Amount withheld where no ABN is quoted field.
- Enter the total amount for other types of withholding in the Other amounts withheld field.
- Click Generate PAYG Amounts. The system calculates the W1 (total salary, wages, and other payments) and W2 (amount withheld from W1) amounts and displays them on the GST/PAYG Amounts tab.
- On the GST/PAYG Amounts tab, review the withholding amounts and modify the Withholding Amt field as necessary.
- Return to the Info tab and select to run the report.
- File the report with the ATO.
- Repeat the process for each quarter.