Business Activity Statement (BAS) Preparation Services Geelong
Preparing and submitting your quarterly Business Activity Statement is all part of the parcel of being a small business owner, but it doesn’t have to be a stressful and time-consuming task.
At Mackenzie Group, we’re the BAS preparation experts. We’ll take care of everything for you, so you can focus on running your business.
Business Activity Statement (BAS) 101: Everything A Small Business Needs To Know
Firstly, What Is A BAS Statement?
Your Business Activity Statement (BAS) is a report that businesses lodged with the Australian Tax Office (ATO) which summarises your business tax obligations for a specific period. This includes GST, PAYG withholding and other taxes.
Who needs to do a BAS Statement?
If you're registered for GST, then you're required to lodge a Business Activity Statement with the ATO on a quarterly basis.
What does a BAS Statement include?
Our BAS will include information on your:
- GST liability (including any GST you owe or are owed)
- PAYG withholding amounts
- other taxes and levies (such as Luxury Car Tax, Wine Equalisation Tax or Fuel Tax Credits)
How Do You Prepare and Lodge A BAS Statement?
There are a few things you need to do to get ready for your BAS lodgement:
- Know your reporting period - this is the period of time that your Business Activity Statement covers. For most businesses, this will be quarterly.
- Keep track of your GST transactions - you'll need to have records of all the sales and purchases you've made that are subject to GST. This includes invoices, receipts and any other documentation.
- Make sure you're up to date with your bookkeeping - this will make it much easier to prepare your BAS accurately and on time.
4 Reasons Why Mackenzie Group Has You Covered This BAS Season
The Mackenzie Group Difference
At Mackenzie Group, we’re passionate about helping Australian businesses grow and thrive.
We do this by providing expert bookkeeping, software and admin services – so you can focus on what you do best.
Don’t believe us?…
What Our Clients Have To Say
Dean Denny, Owendenny Digital
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