BAS Review & Lodgement

As a small business owner, you will have certain obligations to the ATO, in regard to reporting business taxation. Such obligations include the need to complete an IAS (Instalment Activity Statement) or BAS (Business Activity Statement) either monthly, quarterly or annually. They need to be lodged on time to avoid tax office penalties.

 

Using our services gives you an extended time to lodge and pay your BAS – how nice to know the maoney can stay in your bank for an extra month before handing it over to the ATO. Money in your account earning interest is better than money in the ATO account earning them interest!

 

Lodgements are submitted electronically via the ATO BAS Agent Portal. All BAS Lodgements are checked and prepared by a certified and licensed BAS Agent.

Reasons to Lodge with a BAS Agent

  • Reconciliations

    Every quarter you need to reconcile the GST, PAYG, wages payable, super payable, wage expense, super expense and ATO Integrated Accounts to ensure your BAS is correct.

  • Safe Harbour

    If you lodge your own BAS you can get in trouble if there are mistakes. You might even have to pay fines. But your BAS Agent will have you covered by Safe Harbour Laws.

  • Extended Lodgment Dates

    If you lodge your own BAS then you always have to lodge and pay by the due date, but because your BAS Agent gets extra time to lodge them so will you.

  • Code of Professional Conduct

    The Code of Conduct requires your BAS Agent to be professional, honest, independent, confidential and competent. If she isn’t you can call the TPB (Tax Practitioners Board).

  • Minimum Requirements

    Your BAS Agent needs minimum qualifications, 1400 hours experience, a Certificate IV in Bookkeeping, PI Insurance, a professional membership and ongoing study.

  • Ongoing Study

    For 5 hours every year your BAS Agent is studying and paying to learn topics that would probably make you fall asleep, just so they can stay registered and up to date.

BAS Review & Lodgment Includes
  • Review your Xero file
  • Run an Audit Report and check GST coding
  • Ensure Bank Reconciliations are correct
  • Reconcile GST accounts to the General Ledger
  • Ensure PAYGW (Pay As You Go Withholding) liabilty is correct
  • Ensure your W1 field on your BAS is accurate
  • Lock your data file to protect closed period
  • Generate BAS Report and ensure accuracy
  • Send you the BAS report with supporting documentation
  • Obtain electronic signature for BAS
  • Lodge BAS electronically with the ATO
  • Raise bill in system and assist with payment information

We’ll review your transactions from Xero making sure GST is being handled correctly and give any advice about any issues found.

 

BAS Preparation requires expert precision and experienced knowledge. Accurate records and reports allow you to better understand and maximise your cash flow.

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