Business Activity Statement (BAS) Services

Complying with your Goods and Services Tax (GST) and other tax obligations, such as Pay As You Go (PAYG) withholding and installment activity, is a crucial aspect of running a business in Australia. The Business Activity Statement (BAS) is the form used to report and pay these obligations to the Australian Taxation Office (ATO). At OZ Tax Accountants, we offer comprehensive BAS services designed to simplify this process, ensure accuracy, and free up your valuable time.

Who Can Benefit from Our BAS Services?

Our tailored BAS services are particularly valuable for a range of individuals and small businesses who may not have a dedicated bookkeeper, including:

• Sole Traders: Ensure accurate GST reporting and compliance without the need for extensive bookkeeping resources.
• Small Companies: Streamline your quarterly tax obligations efficiently and cost-effectively.
• Contractors and Sub-contractors: Simplify the process of reporting your income and GST.
• Ride Share Businesses: Accurately manage and report GST on fares and other relevant transactions.
• Cleaning Businesses: Efficiently handle GST on services and track deductible expenses for BAS reporting.

For these types of businesses, OZ Tax Accountants offers a practical and affordable solution to manage their quarterly bank transactions, prepare detailed GST summaries, and accurately complete and lodge their Business Activity Statements (BAS) with the ATO. This service provides the professional expertise you need for BAS compliance at a fraction of the cost of employing a full-time bookkeeper, allowing you to concentrate on your business’s growth.

Navigating the BAS with Expertise:

Preparing and lodging your BAS can be time-consuming and complex, requiring a thorough understanding of GST legislation and other tax requirements. Our experienced team at OZ Tax Accountants possesses the expertise to accurately prepare and lodge your BAS on time, every time, minimizing the risk of errors and penalties.

How Our BAS Services Benefit Your Business:

• Accurate Preparation and Lodgement: We ensure your BAS is prepared accurately, taking into account all relevant GST rules, tax withholdings, and other obligations.
• Timely Submission: We manage your BAS lodgement deadlines, helping you avoid late penalties from the ATO.
• GST Compliance: We provide guidance on GST registration, tax invoices, input tax credits, and other GST-related matters to ensure your business complies with ATO regulations.
• Efficient Record-Keeping: We can help you establish and maintain efficient record-keeping systems to streamline your BAS preparation process.
• Integration with Accounting Software: We are proficient in using various accounting software platforms, such as Xero and Intuit QuickBooks, to efficiently prepare your BAS.
• Reduced Administrative Burden: Outsourcing your BAS obligations to us frees up your time and resources, allowing you to focus on running and growing your business.
• Peace of Mind: Knowing your BAS is in the hands of experienced professionals provides you with peace of mind and allows you to concentrate on your core activities.

Our Comprehensive BAS Services Include:

• Preparation of Monthly or Quarterly BAS: We accurately calculate your GST payable or refundable, PAYG withholding, PAYG installments, and other relevant taxes.
• Review of Financial Data: We review your sales, purchases, and other financial transactions to ensure correct GST treatment.
• Lodgement with the ATO: We securely lodge your BAS electronically with the ATO on your behalf.
• Liaison with the ATO: We can act as your agent in communication with the ATO regarding your BAS obligations.
• Advice on GST and Tax-Related Matters: We provide ongoing advice and support to help you understand your GST and other tax obligations.
• Assistance with Amendments and Adjustments: If errors occur or adjustments are needed, we can assist you with the BAS amendment process.