BAS

A Business Activity Statement (BAS) is the single form that you fill in and return to the ATO to report your tax obligations. These include:

• Goods & Services Tax (GST)
• Pay As You Go Withholding (PAYGW)
• Pay As You Go Installments (PAYGI)
• Deferred company and fund installments
• Fringe Benefits Tax (FBT)
• Wine Equalization Tax (WET)
• Luxury Car Tax (LCT)

A company can fill out different forms depending on what taxation liabilities it has (these are referred to as roles). Roles are reported at different time intervals depending upon the size and scale of the business. While some roles such as GST can be reported annually, some entities may be required to report PAYG Withholding liabilities or GST on a quarterly or monthly basis. Most small businesses choose to submit reports quarterly, but you can also lodge them on a monthly basis if that suits you better.

TLB Bookkeeping Solutions provides BAS preparation and lodgement services, either as an individual service or as part of our service packages. Depending upon the complexity of your business, we will work out the fee and give you an idea of the expenses involved in advance.

To begin with, we’ll go over your expenses and transactions for the period for which you’re lodging the BAS and prepare a draft summary for you to take a look at. We’ll then undertake a detailed analysis ensuring all GST input credits are recorded before preparing the final Business Activity Statement. The statement is re-reviewed by our team of specialists to ensure absolute accuracy.

You can either lodge the BAS yourself or we’re happy to do it on your behalf.