Business Activity Statements
Preparing and lodging Business Activity Statements is among the many services offered by Greenhalgh Pickard’s bookkeepers for business clients.
Every business registered for Goods and Services Tax (GST) is required to lodge a Business Activity Statement (BAS) to the Australian Taxation Office (ATO) either monthly or quarterly, depending on its specific tax reporting obligations.
Lodgement dates can tend to creep up by many small business owners who opt for DIY BAS reporting, often causing panic and a hurried attempt to report by the deadline. Yet errors made in this rush or the due date slipping by unnoticed can prove extremely costly for your business.
Professional BAS services can prevent your business from being exposed to non-compliance penalties issued by the ATO.
Importantly, to protect businesses, legislation permits only registered BAS agents or tax agents to provide services in relation to your business’s BAS obligation.
With vast expertise around BAS liabilities, obligations and entitlements, combined with a reputation for accuracy and unsurpassed attention to detail, Greenhalgh Pickard’s registered BAS agents provide clients with peace of mind in knowing that their BAS lodgement will be compliant and on-time, every time.
How a BAS agent differs from a bookkeeper
BAS agents are registered with the Tax Practitioners Board, which oversees and regulates the supply of BAS services. Registration as a BAS agent ensures that the individual has the necessary qualifications, experience, competence and professionalism to assist with BAS obligations.
BAS agents are subject to a Code of Professional Conduct, which includes:
Honesty and integrity (when acting for you in relation to your money)
Independence (always acting in your best interests)
Complete confidentiality (unless directed)
BAS agents must hold Professional Indemnity insurance and are subject to a range of other obligations, administrative sanctions and civil penalties.
Other than yourself or any employees, only registered BAS agents are permitted by law to deal with the ATO on behalf of your business in relation to the following in addition to GST:
Fringe Benefits Tax (FBT) Payments
Fuel Tax Payments
PAYG Instalment Payments
Wine Equalisation Tax (WET) Payments
PAYG Withholding (payroll)
Luxury Car Tax (LCT)
Greenhalgh Pickard’s registered BAS agents
Whether you’re simply needing assistant with BAS preparation and lodgement or your businesses has a need for outsourced bookkeeping and/or other accounting services, expert help is available at Greenhalgh Pickard. Simply call (07) 5444 1022 today.
Greenhalgh Pickard is an innovative Queensland accounting and law firm, with clients predominantly living and working on the Sunshine Coast or the Whitsunday Coast but with many clients also located throughout Queensland, interstate and even overseas. With offices in Caloundra, Kawana, Coolum Beach and Airlie Beach, Greenhalgh Pickard takes pride in being trusted guides and advisers to clients everywhere.
Here are some thoughts from us
There is still a lot of uncertainty around the future of our property market. Most forecasters are predicting a drop in property prices, but by just how much is still unknown. Whilst property only makes up around 13% of the total estimated...
The last few months have been an intense period of survival for many business owners, and it’s not over yet. This next phase will be one of inevitable scrutiny, particularly around JobKeeper entitlements. Here’s what you need to know. Errors in...
As at the end of June 2020, Australian’s had accessed $25billion in early access Super, a Government scheme put in place to help people financially affected by the ongoing Coronavirus Pandemic. When the scheme first opened back on April 20,...
Contact Your Nearest Office
If you are interested in meeting with an accountant or lawyer regarding your business or commercial interests, please fill out the form to book an appointment or call (07) 5444 1022