BAS North Lakes

Sure, you can download a BAS form from the Australian Taxation Office (ATO) website. However, completing and lodging a BAS can be complicated and time-consuming, especially for business owners who are not familiar with the process. That’s where Total Business Partners can help.

Our experienced and qualified accountants can take care of your BAS lodgement for you, ensuring that all your reporting obligations are met on time and accurately. We provide reliable, professional and cost-effective BAS services, so you can focus on running your business with confidence. Contact us today to discuss your BAS requirements.

Yes, a sole trader is required to complete a BAS (Business Activity Statement) if they are registered for GST (Goods and Services Tax) or have an ABN (Australian Business Number) and have a GST turnover of $75,000 or more.

The BAS reports information about the business’s income, expenses, and GST obligations to the Australian Taxation Office (ATO) on a regular basis. Even if a sole trader is not registered for GST, they may still need to lodge a BAS to report other tax obligations, such as PAYG (Pay As You Go) withholding or PAYG instalments.

Total Business Partners can assist sole traders in preparing and lodging their BAS accurately and on time.

To ensure a smooth and efficient BAS lodgment process, it’s essential to provide your accountant with all the necessary information and documentation. Firstly, you should provide your accountant with your financial records, including bank statements, invoices, receipts, and any other relevant financial documentation.

Secondly, you should provide your GST summary report or activity statement from your accounting software, such as Xero. If you have any other tax-related documents, such as PAYG payment summaries or tax withholding certificates, you should also provide these to your accountant. By providing your accountant with all the necessary information, you can ensure that your BAS lodgment is accurate and compliant.

While it is possible to prepare and lodge your BAS on your own, the process can be complex and time-consuming. Engaging a qualified accountant can help ensure that your BAS is completed accurately and on time, allowing you to focus on running your business.

Additionally, an accountant can provide valuable advice on how to optimise your business finances and minimise your tax liabilities. At Total Business Partners, our experienced team of accountants can handle all your BAS needs in North Lakes, from preparation and lodgement to ongoing compliance support and tax advice.

Contact us today to see how we can help streamline your BAS process.

Yes, a bookkeeper can complete a BAS return as long as they are registered with the Tax Practitioners Board and have the necessary qualifications and experience.

However, it is important to note that a BAS return requires a certain level of knowledge and expertise in taxation and accounting. If the bookkeeper is not familiar with the BAS requirements, there is a risk of errors and compliance issues. It is always recommended to engage a qualified accountant or registered BAS agent to ensure accurate and compliant BAS reporting.

Total Business Partners offers BAS services and can connect you with our experienced team of BAS agents.

If you have an Australian Business Number (ABN), it is likely that you are required to lodge a Business Activity Statement (BAS) with the Australian Taxation Office (ATO).

The frequency of lodgement will depend on the turnover of your business. Even if your business is not registered for GST, you may still need to lodge a BAS to report your Pay-As-You-Go withholding amounts. It’s important to ensure that your BAS is lodged on time to avoid penalties and interest charges.

If you’re unsure whether you need to lodge a BAS or how to do it, our qualified accountants can provide guidance and support.

Any registered business entity, including sole traders, partnerships, companies, and trusts, can lodge their BAS returns. However, it’s important to note that the person who is responsible for preparing and lodging the BAS returns must have the necessary knowledge and expertise to do so accurately. This can be a business owner, bookkeeper, or accountant.

At Total Business Partners, our team of experienced professionals can assist you with your BAS preparation and lodgement needs. With our expertise, you can rest assured that your BAS returns are accurate, complete, and lodged on time, minimizing any risk of penalties or interest charges.

Business Activity Statements (BAS) are used to report and pay a variety of taxes, including Goods and Services Tax (GST). The expenses that can be claimed on BAS will depend on the nature of your business and the types of expenses you incur.

In general, you can claim any expenses that are directly related to your business and that you have a valid tax invoice for. This can include expenses such as rent, utilities, office supplies, and vehicle expenses.

However, it’s important to note that not all expenses are eligible for GST credits, so it’s best to consult with your accountant to ensure you’re correctly claiming expenses on your BAS.

If you don’t lodge your BAS on time, you may face penalties and interest charges from the Australian Taxation Office (ATO). The penalty amount will depend on how long the lodgment is overdue and the size of your business. Failing to lodge a BAS can also result in the ATO taking legal action against you, which can lead to fines or even prosecution.

Additionally, failure to lodge a BAS can impact your ability to apply for government grants, loans or other financial assistance. It is essential to ensure that your BAS is lodged on time to avoid any financial or legal consequences.