What Does BAS Mean In Accounting?

BAS stands for Business Activity Statement. BAS is one of the key steps a business owner needs to take to ensure they remain compliant with Australian taxation laws. A business activity statement is a report that details to the government what you’ve been doing as a business, including how much tax you’ve been paying.

What Are The BAS Due Dates For Accountants?

BAS due dates for accountants are decided by business owners. They are typically on a monthly or quarterly basis, but in some cases, a business owner might choose to submit BAS annually. It all depends on your requirements as a business, and how you work as a business owner. If you’d like advice as to which due date for BAS reporting you should choose, get in touch with Clear Tax. We can help you understand your requirements.

What Is The Best BAS Accounting Software?

There are dozens of free and paid options for BAS accounting software on the market, each with its own limitations and benefits. What will work for your business will depend on how you work and your requirements. We’ll take a brief look at some of the big players in the BAS accounting software space: Intuit Quickbooks – consistently outranking other platforms as the most versatile accounting software, Quickbooks ranks highly for value and reporting feasibility. Xero – an incredibly affordable solution for BAS software needs, Xero is a local platform that can help you remain compliant in all tax matters. MYOB – founded in Australia for Australian taxation matters, MYOB is a world leader in terms of practicality, functionality, and affordability. For more information about accounting software available to your business, get in touch with Clear Tax. We can give you a fair and balanced look at all the options.

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Why you need BAS accountants in Melbourne

Business Activity Statements are one of the most important reporting obligations that a business needs to undertake. If you are registered to pay GST, then you need to provide regular Business Activity Statements to the ATO.

BAS services and advice from Clear Tax can:

Advise you on how best to report your earnings
Mitigate business risk
Ensure that you remain compliant
Give you time back to focus on your business

BAS Accounting

What is a business activity statement?

A business activity statement is a special report that needs to be lodged with the Australian Tax Office that contains information about goods and services tax (GST), Pay as You Go (PAYG) instalments, PAYG withholding tax (PAYGW), fringe benefits tax, and other taxes.

BAS needs to be lodged frequently – usually once per month or once per quarter. More importantly, it needs to be lodged accurately. Mistakes in your BAS can leave you open to penalties, and can be costly and time-consuming to fix.

If you’re ready to let a tax expert handle BAS obligations for your business, get in touch with our BAS accountants today.

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Registrations

We are fully registered as BAS tax agents, and are qualified and experienced in handling all basic and complex BAS matters.

Preparation

Preparing a BAS can be costly in terms of time and lost business expenses. We can handle it for you to allow you to get on with work and life.

Calculations

We’ll do all the required calculations for taxes you need to pay, including PAYG, PAYWG, Fringe Benefits, Luxury Car, and even the Wine Equity Tax.

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What are the types of BAS services?

There are several main types of BAS services that we can provide, each of which has different operations.

Lodgement

We can ensure that everything is in order before we lodge your BAS. We can lodge it online or via mail, making sure that it is submitted when you need it.

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I have worked with Clear Tax Accountants in Richmond Melbourne for about one year. They have managed my returns, my Jobkeeper, my grants and all they have done very professionally and are a wonderful friendly group of friends. I recommend them if you’re considering an accounting firm.

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Great job to all of your Clear Tax teams. As the name states its been a very clear advice and efficient. Always helpful to develop our business via free seminars. Great job guys.

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I have been dealing with Yuvraj for number of years. His personal, professional and prompt service is second to none, one of the many reasons i have referred her to my clients and friends. will continue to do so. Without a doubt, 5 star all the way.

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Their services are dependable, quick, and reasonably priced. They keep me informed about new tax legisaltion that may affect my position and will assist me reduce the amount of tax I owe or maximise my refund. I’m certain that my taxes are being handled in the most efficient manner possible. Thank you very much!

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Ash and Yuvraj are a great team. They genuinely care and help people. They are professional and friendly. No matter how busy they are, they will always get back to you. I have called Ash few times and he has always called back irrespective of the time, always chirpy even over the phone. I would highly recommend their team.

Gladys Rodrigues

Ash and the team at Clear Tax have been absolutely spot-on for me and my business. Thorough, informed, approachable and, above-all, affordable, their company provides an incredibly refreshing and forward-thinking alternative to the more ‘old-school’ accountancy firms. Thank you for helping me in an area of business I do not love!

Roman Singh

We are delighted with the service Ash and his team at Clear Tax Accountants has afforded us since we joined them. They are very forward thinking utilising new software apps and technology. Most importantly for us, they are always accessible to help and answer our queries, as well as taking the time to get to know more about our business, Government Grants and how it works – a rare thing!

Jacqueline Chatlin

Excellent Service & help with all aspects of my accounts. Working as a micro-business I have little time to spend on accounts and the team at Clear Tax Accountants have looked after me brilliantly from the very beginning. I feel I am in safe hands and they answer queries in a very straightforward manner so I understand everything in order to decide what to do best for my business. Delighted with Ash and Yuvraj. Thank you!

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Why choose Clear Tax for BAS?

Clear Tax offers accurate and impartial support, advice, and services to help you lodge Business Activity Statements. We can help you at any stage, whether you are just getting started, or have experience submitting BAS. With our advisory services and strong experience in the field, we can help you remain compliant while finding greater success in your obligations.

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Frequently Asked Questions

About Business Activity Statements

Below are answers to some of the most common tax return questions our accountants get asked.

What does BAS mean in accounting?
BAS stands for Business Activity Statement. BAS is one of the key steps a business owner needs to take to ensure they remain compliant with Australian taxation laws. A business activity statement is a report that details to the government what you’ve been doing as a business, including how much tax you’ve been paying.
What are the BAS due dates for accountants?
BAS due dates for accountants are decided by business owners. They are typically on a monthly or quarterly basis, but in some cases, a business owner might choose to submit BAS annually.

It all depends on your requirements as a business, and how you work as a business owner. If you’d like advice as to which due date for BAS reporting you should choose, get in touch with Clear Tax. We can help you understand your requirements.
What is the best BAS accounting software?
There are dozens of free and paid options for BAS accounting software on the market, each with its own limitations and benefits. What will work for your business will depend on how you work and your requirements.

We’ll take a brief look at some of the big players in the BAS accounting software space:
- Intuit Quickbooks – consistently outranking other platforms as the most versatile accounting software, Quickbooks ranks highly for value and reporting feasibility.
- Xero – an incredibly affordable solution for BAS software needs, Xero is a local platform that can help you remain compliant in all tax matters.
- MYOB – founded in Australia for Australian taxation matters, MYOB is a world leader in terms of practicality, functionality, and affordability.
For more information about accounting software available to your business, get in touch with Clear Tax. We can give you a fair and balanced look at all the options.

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