Australian businesses must file a business activity statement BAS at set intervals throughout the year. A BAS includes information on the various taxes that your company owes such as the pay as you go or PAYG payments, goods and services tax or GST, withholding tax and other required taxes. The record keeping for these taxes needs to be accurate or your company may face fines or penalties. Taxes are too complex today for the average company accountant or bookkeeper to navigate through in a proficient manner. Instead, you should outsource your tax matters to an outside company such as ours, Bookkeeping Partners.
We Keep Track of the Company’s Revenue and GST Liabilities
Our Company will keep track of your company’s incoming revenue from your goods and services. We also will calculate your GST liabilities for the BAS paperwork when it comes time to fill it out and lodge it. You will receive pertinent updates on these figures.
Our Company Tracks and Records All Necessary Payroll Taxes
Since your employees pay part of their taxes through their paychecks, we will not only calculate your outgoing payroll, but we also will track the payroll taxes that your company must pay for each employee. You will need this information for your company’s business activity statement BAS.
Bookkeeping Partners Calculates PAYG Instalments
PAYG instalments allow you to make scheduled payments towards your company’s estimated annual income tax obligation. The income of the company needs to be over a specific amount for you to qualify for this type of payment plan. Our experts will calculate and track these payments for you. At times, you even may qualify for a 30-day extension on your payment when circumstances justify it.
We Compile All Other Necessary Data for the BAS
Other information also may be necessary for your BAS according to the specific nature of your business. We will take care of compiling whatever other information you need besides what we already talked about in the above details.
Experts from Our Company Will File Your BAS on Time
Our experts will fill out and lodge your BAS on time either monthly or quarterly with the Australian Taxation Office. Of course, we will receive your approval before releasing the BAS to ensure that you agree with all our computations. The appropriate signatures also are necessary.
With our help, the filing of your business activity statement BAS will proceed smoothly at the allotted time. We guarantee that all of our bookkeeping and accounting services are 100-percent accurate.