Business Activity Statements

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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:

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Honesty and integrity (when acting for you in relation to your money)
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Independence (always acting in your best interests)
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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:

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Fringe Benefits Tax (FBT) Payments
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Fuel Tax Payments
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PAYG Instalment Payments
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Wine Equalisation Tax (WET) Payments
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PAYG Withholding (payroll)
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Luxury Car Tax (LCT)

Complete Advice

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.

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With accounting and law firm offices in Caloundra, Kawana and Coolum Beach, Greenhalgh Pickard Solicitors and Accountants takes pride in being trusted legal guides and financial business accountant advisers to clients everywhere.

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