BAS & IAS
Even if you do your own bookkeeping and payroll, there can be great benefits in engaging a BAS Agent to take care of your monthly and quarterly obligations.
By ensuring that your Instalment Activity Statement (IAS) and Business Activity Statements (BAS) are correct you eliminate any cashflow deficiencies that could be created and of course timely lodgments mean no late penalties.
Understating your obligations will lead to a nasty surprise when your year-end work is done, while overstating them will mean paying more for that given month/quarter therefore affecting cashflow immediately.
By reconciling your books on a quarterly basis, it also provides a health-check for your business to ensure your heading in the right direction.
Being a registered BAS Agent means we’re ATO approved and have completed the necessary training & association registrations required to be considered fit to manage GST & BAS related issues.
Ensuring that your bookkeeper is properly qualified and Australian Tax Office approved, is essential to ensure you are meeting your obligations and are compliant.
In order to be registered as a BAS Agent, we are required to undergo training and abide by a strict code of conduct.
There are hefty fines and penalties in place for practitioners who are not registered with the Tax Practitioners Board, and for good reason. Even if the onus is on your bookkeeper, and they get it wrong through lack of proper training, you may still get stuck with the bill that arises from incorrect lodgments.