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As a registered BAS agent we can help your business with the timely preparation and online lodgement of your BAS, IAS and PAYG, ensuring your business meets all of its obligations with the Australian Taxation Office.
Access expert advice to help with savings on taxes.
Never miss a BAS deadline.
Accurate reconciliation of all your business activity.
By lodging your BAS through a registered BAS agent such as Books & Balance, you will get an additional ONE MONTH to make payments which can be great for helping with your business cash flow.
Time savings – so that you can focus on what you love and growing your business.
As a Xero certified partner we can help you reconcile your bank account to report accurate figures in order to prepare your BAS. We also work with other online accounting platforms such as MYOB, QuickBook, and more.
If your GST registered business income exceeds or is likely to exceed $75,000, then you are required to report and lodge a quarterly BAS with the Australian Taxation Office.
Your BAS will report your business revenue, and any GST on both your sales and expenses. You will either have a GST refund (if GST-related expenses are more than GST-related sales) or a GST payable (if sales exceed GST-related expenses).
Your BAS will also report any employee wages and PAYG withholding tax, pay as you go instalments (PAYGI), fringe benefits tax (FBT), wine equalisation tax (WET) and luxury car tax (LCT) if applicable.
How often you complete a BAS – and when you must submit it – depends on how much business you’re doing. And that’s measured by your annual turnover.
More than $20 million annual turnover
Lodge: Monthly.
Deadlines: You must submit a BAS within 21 days of the month closing.
Less than $20 million annual turnover
Lodge: Quarterly.
Deadlines:
Quarter 1 (July-September) BAS is due on 28 October.
Quarter 2 (October-December) is due on 28 February.
Quarter 3 (January-March) is due on 28 April.
Quarter 4 (April-June) is due on 28 July.
By lodging your BAS through a registered BAS agent such as Books & Balance, you will get an additional ONE MONTH to make payments which can be great for helping with your business cash flow.
If your turnover is less than $10 million, you may be able to lodge annually – but you’re still required to pay a quarterly instalment of the GST you owe.
Less than $75,000 annual turnover (or $150,000 for non-profits)
Lodge: Annually.
Deadline: Submit with income tax return.
All businesses are required to report to the ATO by submitting BAS and IAS statements in a timely manner.
