Business Activity Statement (BAS) is a fact of your business life which can be either a monthly or quarterly basis. It summaries the Total Amounts of GST payable and receivable for a certain time, including PAYG and ABN withholding tax.
Below are some basic features of BAS
- PAYG Tax Instalment
- PAYG Tax Withheld
- Fringe Benefit Tax (FBT)
Business Activity Statement must be lodged for every period (monthly or quarterly) by all business owners and loading & paying BAS has been made easier these days with option via variety of methods.
- Credit Card
Tax Ideas Accountants & Advisers can help you to identify the need to register GST at the outset and continue to monitor your tax return, so that we can ensure the compliance of current tax law. In addition, should there be a need to cancel your registration of GST for some reasons, we will notify you on a timely manner. In determining the most suitable GST schemes for your business, we also need to look at the type of business that you are in and the eligibility together, as some GST schemes may entitle you the right to a certain amount of tax savings.
On the whole, a delay or an error on GST registration, GST payment and BAS Returns all can lead to penalties and penalty interest. Let us take care of your problems and help you to achieve peace of mind, so that you can focus on running your business single-minded.
Call us on (02) 8318 1545