BAS and IAS

A Business Activity Statement (BAS) is a form submitted to the Australian Taxation Office (ATO) to report and pay various taxes, including GST, PAYG withholding, and other obligations. On the other hand, Instalment Activity Statements (IAS) are IAS are lodged to ATO to report PAYG withholding. Regular lodgment of BAS and IAS ensures businesses meet their tax responsibilities and stay in good standing with the ATO. Whether you are a small business or a growing enterprise, keeping your activity statements accurate and on time is essential to avoid penalties and maintain smooth operations.

What We Offer

Preparation and Lodgment: At Budgetwise, we ensure that your BAS and IAS are prepared accurately and lodged on time, helping you stay compliant with ATO deadlines and avoid penalties.
GST and PAYG Calculations: Our experts handle all GST and PAYG withholding calculations with precision, ensuring your tax obligations are correctly reported and reducing the risk of errors.
Communication with the ATO: Our accountants act as your liaison with the ATO, managing queries, reminders, and compliance notices so you can focus on growing your business.
Error Review and Corrections: We thoroughly review your records for any discrepancies, offering prompt corrections to ensure your BAS and IAS are lodged error-free and reflect your business activities accurately.

Key Benefits

01.

Meet ATO Deadlines

Avoid late lodgement penalties by staying compliant.

02.

Better Cash Flow Management

Plan tax payments efficiently with regular reporting.

03.

Accurate Tax Reporting

void errors by keeping finances up to date.

04.

Tax Minimization Opportunities

Identify creditable acquisitions on time.

FAQ's about BAS and IAS

1. What is the difference between BAS and IAS?

2. How often do I need to lodge BAS and IAS?

3. Can I lodge my BAS late?

4. What happens if I make an error on my BAS?

5. Do I need to register for GST to lodge BAS?

6. What is PAYG withholding, and why is it part of BAS?

7. Can I claim GST credits on my BAS?

8. Can I get an extension for BAS or IAS lodgement?

9. What records do I need for BAS and IAS?

Need Help?

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Other Services

Bookkeeping and Accounting

Payroll, Payroll Tax, and Fringe Benefits Tax (FBT)

Financial Statements and Reporting

Tax Planning

Company, Trusts, and Self-Managed Super Funds (SMSF) Registration

Budgeting, Forecasting, and Working Capital Planning

Internal Controls Design and Implementation

Business Advisory and Consultation

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Contact

+61 04 1018 3009

Email

info@budgetwiseaccountants.com

Office

Unit 12, 10-12 Childs Street, Lidcombe NSW, 2141

Budgetwise Accountants acknowledges the traditional owners of the lands across Australia as the continuing custodians of country and culture. We pay our respect to First Nations Peoples and their elders, past, present and emerging.