BAS and IAS Accountant Craigieburn
Do you need help lodging your instalment activity (IAS) or business activity statement (BAS) in Craigieburn? AKBBS Pty Ltd is here to help you. We are a reputed business accounting service provider that adapts to your company’s needs. Our team offers personalised services that consider your specific requirements before recommending tailored solutions.
As a business owner, you should always lodge your BAS before the due date. This will help you avoid unnecessary penalties from the Australian Taxation Office (ATO). It also prevents unnecessary paperwork and time-consuming complexities. The longer you delay filing your BAS, the higher penalties you can incur. To prevent such complications, our BAS and IAS accountants will manage this task for you.
We offer personalised services to manage your finances and tax responsibilities. Our trained accountants remove the hassle of managing quarterly or monthly BAS or IAS yourself. These professionals will handle your bookkeeping requirements, keeping everything simple, stress-free and compliant.
BAS and IAS: What Are They?
Business Activity Statement (BAS) and Instalment Activity Statement (IAS) are ATO forms. They are filed to report the following tax obligations to the Australian Taxation Office:
Goods and Service Tax (GST)
PAYG Withholding
PAYG Income tax instalment
Fringe benefit tax
Fuel tax credit
You will need to prepare BAS forms between one and twelve times a year depending on how big or small your business is. ATO uses business activity statement (BAS) data to calculate GST refunds and other bills. Similarly, the IAS is another pre-printed document issued by the ATO. It records all Pay-as-you-go (PAYG) instalments, PAYG withholding and ABN withholding. The IAS form is prepared monthly and included in the BAS form.
According to Australian tax law, a business owner must lodge BAS and IAS before the due date. You may incur a late lodgement penalty on delayed filings. Additionally, business owners have to bear interests in overdue debts ATO for delayed filing.
Our BAS and IAS Accounting Services
We have skilled BAS and IAS accounting agents at AKBBS Pty Ltd who can calculate and lodge business activity statements for you. They specialise in various bookkeeping and accounting services for small businesses. These ensure that your business stays up-to-date with the latest ATO regulations. Moreover, we handle all aspects of BAS and IAS reporting, including the preparation and lodging of statements. Our agents also provide tax consultations for minimising your tax liabilities.
ATO Business Activity Statement Guidance
Businesses registered for GST must regularly lodge BAS to the ATO. This statement helps them report and pay their GST as well as PAYG instalments. Here is a brief overview of the ATO’s BAS form and a few important pointers:
- Information you will need: You should always keep a record of GST collections on sales and GST payments for purchases. While it is not required to submit your tax invoices when lodging BAS, keep them handy as the ATO may ask for them. Additionally, include information about your business, turnover, and employees in your BAS. You might need it for other tax reasons.
BAS and IAS Lodging Procedure: There are multiple ways of lodging the ATO instalment activity statement and BAS. You can do this
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- Through your myGov account (for sole traders).
- Via an online accounting software.
- Through the ATO’s online business portal.
- Hiring a registered tax agent, accountant, or bookkeeper to submit the forms on your behalf.
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Missing the Due Date: If you miss the due date without good reason, the ATO can penalise you in the form of a hefty late fine.
Why Choose Us?
Are you looking for reliable bookkeepers? Do you need help with BAS or IAS filing? Look no further. With AKBBS Pty Ltd, lodging BAS and instalment activity statements in Craigieburn is easy. We provide:
Tailored Services
Time-saving Procedures
Financial Advice
Other Accounting Services
For all your BAS and IAS queries, call us on (03) 9308 4403 or email us at admin@akbbs.com.au. Our team will be happy to help you.
FAQ’S
By hiring an expert BAS and IAS accountant for your business, you can quickly reconcile your transactions and review your GST coding for errors. It ensures you are claiming the right amount of GST in the statements.
Depending on your business, you will have to submit BAS anywhere between one to twelve times a year. The BAS includes GST collected on sales, GST paid on purchases, tax withheld on employee wages and an income tax instalment. To learn more about BAS and IAS, contact our support team today.
According to the Tax Practitioners Board, your BAS accountant can assist in calculating and lodging income statements, gross wages and allowances. Also included are other taxable and non-taxable payroll items.
A BAS accountant keeps track of your business’s finances and helps you avoid hefty penalties. To learn more about BAS accountants and how they help, you can contact our representatives.
