BAS & IAS Lodgement
“A BAS agent is a person, partnership or company registered with the Tax Practitioners Board (TPB) and provides BAS services, including advice, preparation and/or lodgment of BAS”- ATO
BAS & IAS Lodgement Services
Creative Administration Solutions has experienced BAS and IAS accountants providing businesses personalised BAS & IAS Lodgement Services.
- Prepare and lodge your BAS and IAS advising the ATO of your liabilities, obligations or entitlements under BAS provisions
- Deal with the ATO on your behalf
- Calculate and lodge income statements, employee termination payments, gross wages, allowances and other taxable and non-taxable payroll items
- Report and pay your GST, pay as you go (PAYG) instalments and PAYG withholding tax
- Provide advice to ensure you are keeping appropriate records
- Ensure you are using the correct GST accounting method
- Help with any adjustments required in your activity statements
BAS & IAS Lodgement
If you are a business registered for GST, you need to lodge a business activity statement (BAS). Your BAS will help you report and pay your goods and services tax (GST), pay as you go (PAYG) instalments, PAYG withholding tax and other taxes. As a registered BAS agent, we can takeover what is often an overwhelming and stressful task for small business owners.
It’s important you lodge your activity statements and pay all your PAYG instalments before you lodge your tax return to make sure the instalments you paid throughout the year are taken into account in your tax assessment.
You have several options for lodging your business activity statements and reporting your goods and services tax (GST), pay as you go (PAYG) instalments, PAYG withholding tax and other taxes to the ATO. As registered BAS agents, we can prepare, lodge and revise activity statements and other reports using the ATO’s secure online services portal.
Due dates for lodging your BAS
The due date for lodging and paying is displayed on your business activity statement (BAS). If the due date is on a weekend or public holiday, you have until the next business day to lodge and pay.
Your GST reporting and payment cycle will be one of the following:
- Quarterly – if your GST turnover is less than $20 million – and we have not told you that you must report monthly.
- Monthly – if your GST turnover is $20 million or more.
- Annually – if you are voluntarily registered for GST and your GST turnover is under $75,000 ($150,000 for not-for-profit bodies).
Business Activity Statement & GST tips
Here are some tips to help you prepare prior to lodging your business activity statements (BAS) and get your goods and services tax (GST) information right.
Remember to only claim GST credits on the business portion of purchases, and you cannot claim GST on private expenses, such as food or entertainment or any item for personal use.
- Keep records of all sales, fees, expenses, wages and other business costs
- Keep appropriate records, such as stocktake records and logbooks, to substantiate motor vehicle claims
- Use the correct GST accounting method
- Use the discounted price when claiming GST credits for discounted purchases, even if the discount doesn’t appear on the invoice.
- Keep all your tax invoices and other GST records for five years.