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Business Activity Statements
​If you are registered for GST, then you will need to lodge a BAS usually each quarter. We don’t just see this as a government directive, we see this as a great opportunity for you to look at how your business is going and stay in touch. By getting us to help you with your BAS, we can have interim information available to you upon request and also prevent nasty tax surprises at the end of the year. The below list will show you the benefits of lodging your BAS with us.

Legal Engagement

In order to keep your costs down, make the process more efficient and because annual financial statements are collated, we will not review the correctness of the underlying information. We will rely on and process the financial information provided to us without any review of the primary source documents. We ask you to provide accurate financial information that correctly states the GST position and that you maintain the necessary supporting documentation, including tax invoices, to satisfy the ATO.

We will also annually reconcile your BAS statements to your financial accounts. This means that when the financial accounts are prepared, some discrepancies may exist between the information disclosed in the quarterly BAS returns and in the annual financial statements. If this happens we will correct either the BAS returns and/or the financial accounts.

Service Components

1

Registrations

First and foremost, we check your registrations for GST, PAYG, FBT, Fuel Rebate, etc. We will look for opportunities to help simplify your compliance and for ways to reduce your liability.
2

Reporting Frequency

The second thing we discuss is how often you want to report to the ATO within their guidelines. Perhaps yearly works better for your business or you may want monthly reporting to help cash flow. This can streamline the process and ease the burden of compliance.
3

PAYG Instalments

If the ATO are asking you to prepay your tax via the PAYG instalment system, then we help you manage your payments to get close to the liability that you should be paying. Sometimes things happen in business as well and we can help adjust this amount to reflect those events.
4

PAYG Withholding

If you have employees then you will be required to report your PAYG withholding on the BAS and we will help you balance your payroll.
5

Draft Preparation

We send out a draft for you to consider. We want you to pay as little tax as possible and will work with you to ensure that is the case.
6

Final Lodgement

We use the final documents to prepare your tax returns and help provide advice to you. We keep it in electronic format as well so that it can be emailed efficiently to you.
Let us walk alongside you on your journey and provide the accounting support that you need. We have your back.
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