Tax Money 2027

Our Tax Money calculator is designed to help your small business clients keep a real-time estimate of future BAS, income tax and other tax related payments. Identifying these amounts at their taxing point will help clients avoid spending funds that aren’t truly available.

Cashflow is the lifeblood of any business and tax payments are a significant part of cashflow. A recent CreditorWatch analysis revealed that 33% of businesses (1,715 out of 5,097) with tax debts over $100,000 had become insolvent or voluntarily closed over the previous 12 months. Many small business clients lack the necessary resources, time or know-how to project their future tax payments and need your help. Maintain these projections in-house or set up the calculator with opening balances and give it to the client for data entry.

WARNING: this file is not compatible with Excel version 2019 and prior and cannot be used with the cloud-based version of Excel, or Excel for Mac, or Google Sheets.

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Description

Description

Features

The Process

Start at the beginning of any tax period during the financial year
Enter unpaid amounts at the start date
Add a one-line sumary for each BAS before the start date to estimate income tax YTD
From the start date, enter a summary of sales and purchases for your BAS by date ranges that suit the needs of your business
Enter PAYG Withholding by pay day
Enter actual figures when the related form(s) have been prepared and actuals will replace estimates
Enter payments when made and actuals are reduced accordingly
See a real-time estimate to the date of your last entry of “tax money” needed for future payment.