BAS Services

BAS stands for Business Activity Statement. It is a tax reporting requirement that businesses in Australia must comply with. BAS reports provide the Australian Taxation Office (ATO) with information about a business’s tax obligations, including the Goods and Services Tax (GST), Pay As You Go (PAYG) withholding, and other taxes such as Luxury Car Tax, Wine Equalisation Tax, and Fuel Tax Credits.

BAS agents and tax agents are both registered professionals in Australia who provide taxation-related services, but they have different areas of expertise and responsibilities.

A BAS agent is specifically registered to provide services related to the preparation and lodgment of Business Activity Statements (BAS), which report on a business’s Goods and Services Tax (GST), Pay As You Go (PAYG) withholding, and other taxes. BAS agents can also provide advice and guidance on record-keeping requirements, compliance with tax laws and regulations, and other related matters.

On the other hand, a tax agent is registered to provide a broader range of taxation-related services, including preparation and lodgment of income tax returns for individuals, businesses, and other entities, as well as providing tax advice, tax planning, and other related services.

A BAS agent (Business Activity Statement agent) is a professional who is authorised to provide advice and assistance on matters relating to the preparation and lodgment of activity statements, which are reports used by businesses in Australia to report various tax obligations to the Australian Taxation Office (ATO).

1. Private and domestic transactions: Transactions that are of a private or domestic nature, such as purchases of personal items, are generally not subject to GST and are therefore excluded from the BAS reporting requirements.

2. GST-free supplies: Some goods and services are exempt from GST and are classified as “GST-free supplies”. These transactions are also excluded from the BAS reporting requirements.

3. Input-taxed supplies: Certain types of supplies, such as financial services, are classified as “input-taxed supplies”. These transactions are also excluded from the BAS reporting requirements.

4. Salary and wages: Salary and wages paid to employees are subject to PAYG withholding but are not included in the BAS reporting requirements. Instead, they are reported on the employer’s annual PAYG withholding summary.

Generally, the ATO aims to process refunds within 14 days of receiving a complete and accurate BAS report. However, it’s important to note that some refunds may take longer to process, particularly if additional information or verification is required. This is where the experience and expertise of a BAS agent comes in handy, no delays or corrections. With ALLEVI8HQ your BAS will be accurate and on time.

BAS stands for “Business Activity Statement,” which is a form that Australian businesses use to report and pay their taxes, including Goods and Services Tax (GST), Pay As You Go (PAYG) withholding, and other taxes. The BAS report is usually submitted on a monthly or quarterly basis, depending on the size and structure of the business.

IAS, on the other hand, stands for “Instalment Activity Statement,” which is a form that some Australian businesses use to report and pay their income tax. The IAS is used to pay the business’s income tax liability in instalments throughout the year, based on the estimated income for the year. This helps businesses to manage their cash flow and avoid large tax bills at the end of the year.

Yes. Our BAS agents are based in Brisbane, Australia. We also provide BAS services to business clients in Perth, Melbourne, Sydney and all across the country online.