Business Activity Statement (BAS) Services in Bankstown – Expert BAS Lodgment & GST Compliance
Filing a Business Activity Statement (BAS) is a crucial responsibility for any business registered for Goods and Services Tax (GST) in Australia. Ensuring accurate BAS lodgement is essential to avoid penalties, late fees, and compliance issues with the ATO.
At Tax Essentials, we provide professional BAS lodgement services in Bankstown, helping small businesses, sole traders, and corporations meet their GST, PAYG withholding, and other tax obligations efficiently. Whether you need monthly, quarterly, or annual BAS reporting, our registered BAS agents ensure accuracy and compliance every step of the way.
A Business Activity Statement (BAS) is an essential compliance requirement for businesses registered for GST in Australia. Our expert BAS agents at Tax Essentials offer tailored services to simplify your BAS lodgment process, helping you avoid errors, penalties, and the stress of managing your business’s tax obligations.
Call Tax Essentials today for expert BAS lodgement and GST compliance services in Bankstown!
What is a Business Activity Statement (BAS)?
A Business Activity Statement (BAS) is a tax report that businesses must lodge with the Australian Taxation Office (ATO) to declare and pay certain tax obligations, including:
Goods and Services Tax (GST) – Reporting GST collected from sales and claimed on purchases.
Pay As You Go (PAYG) Withholding – Reporting the tax withheld from employees’ wages.
Pay As You Go (PAYG) Instalments – Prepaying income tax based on business earnings.
Fuel Tax Credits & Other Obligations – Claiming fuel tax credits and other industry-specific tax benefits.
Businesses must lodge a BAS statement either monthly, quarterly, or annually, depending on their turnover and tax obligations.
Not sure when your BAS is due? Our tax professionals can determine your lodgment schedule and handle all ATO reporting on your behalf.
Who Needs to Lodge a BAS?
Your business must lodge a Business Activity Statement (BAS) if:
You are registered for GST (business turnover exceeds $75,000 per year).
You withhold PAYG tax from employee wages.
You are required to prepay income tax through PAYG instalments.
If you’re unsure whether you need to lodge a BAS, our expert BAS agents in Bankstown can review your business and ensure you’re meeting all ATO requirements.
How We Help with BAS Lodgment & Compliance
We provide full-service BAS preparation, ensuring all your financial transactions are accurately recorded and reported to the ATO. Our detailed review process identifies potential errors, helping you avoid costly mistakes.
- GST Reporting: We handle all aspects of GST reporting, including input tax credits and GST payable, ensuring your statements are correct.
- PAYG Withholding: Our BAS agents accurately calculate and report your PAYG withholding, keeping your business compliant.
- Review of Transactions: We review your sales, purchases, and expenses to ensure all figures are accurately reported on your BAS.
How We Help with BAS Lodgment & Compliance
1. BAS Preparation & Lodgment Services
Filing a BAS statement incorrectly can result in ATO audits, penalties, or tax debts. Our registered BAS agents ensure error-free and timely lodgment to avoid these risks.
Accurate GST calculations and reporting
Lodging BAS statements monthly, quarterly, or annually
Ensuring compliance with PAYG withholding and instalments
Reviewing financial records for discrepancies before lodgment
2. GST Compliance & Reporting
If your business is registered for GST, you must collect GST on sales and claim GST credits on purchases. We help you manage:
Correct GST registration for your business type
Calculation of GST payable and input tax credits
Lodgement of GST returns and adjustment reports
We ensure you pay the correct GST amount and claim all eligible GST credits to improve your cash flow.
3. PAYG Withholding & Instalments
For businesses with employees or contractors, PAYG withholding and instalments are mandatory. We assist with:
Calculating and reporting PAYG tax withheld from employee wages
Prepaying business income tax via PAYG instalments
Ensuring compliance with Single Touch Payroll (STP) requirements
Let our accountants manage your payroll tax obligations, ensuring compliance and avoiding ATO penalties.
4. BAS Review & Amendments
Mistakes in BAS lodgments can lead to unnecessary tax payments or ATO audits. We provide:
Detailed review of past BAS statements for errors
Correction and amendment services for previously lodged BAS reports
Negotiations with the ATO if discrepancies arise
If you’ve made an error in a past BAS lodgment, we can help you fix it quickly and correctly.
BAS Lodgment Deadlines & Frequency
BAS lodgment frequency depends on business turnover and ATO requirements:
Monthly Lodgment – Required for businesses with a GST turnover above $20 million.
Quarterly Lodgment – The most common option for small businesses and sole traders.
Annual Lodgment – Available for businesses with GST turnover under $75,000 that voluntarily register for GST.
Missing a BAS deadline can result in penalties. Our BAS agents in Bankstown ensure your statements are lodged on time, every time.
Common BAS Mistakes & How We Prevent Them
Many businesses make costly mistakes when preparing their Business Activity Statements. The most common errors include:
Incorrect GST calculations – Overpaying or underpaying GST.
Forgetting to claim GST credits – Losing money by not claiming eligible deductions.
Late lodgment penalties – Failing to meet ATO deadlines.
Misreporting PAYG withholding – Incorrect payroll tax calculations leading to ATO fines.
Our expert accountants ensure your BAS is accurate, compliant, and submitted on time to avoid costly errors.
Why Choose Tax Essentials for BAS Lodgment?
Registered BAS Agents in Bankstown – ATO-compliant lodgment services with no errors.
Affordable, Hassle-Free BAS Reporting – Save time and focus on running your business.
Cloud-Based Accounting & GST Tracking – We use Xero, MYOB, and QuickBooks for seamless financial management.
ATO Audit Protection & Tax Planning – Minimise risks with expert financial oversight.
Don’t risk BAS errors or late penalties—let our experts handle it for you!
FAQs About Business Activity Statements in Bankstown
Here are some frequently asked questions about our BAS services:
Q: What is a Business Activity Statement (BAS)?
A: A BAS is a tax report that businesses must lodge with the ATO to report and pay taxes such as GST, PAYG withholding, and other tax obligations. Our BAS agents can assist you with accurate preparation and lodgement.
Q: How often do I need to lodge a BAS?
A: BAS is typically lodged quarterly, but some businesses may need to lodge monthly or annually, depending on their turnover and ATO requirements. We can help determine your specific lodgement schedule.
Q: Can I lodge my BAS myself?
A: While you can lodge your BAS yourself, using a registered BAS agent ensures accuracy and compliance, reducing the risk of errors and penalties. Our experts handle all aspects of BAS preparation and lodgement for you.
Q: What happens if I lodge my BAS late?
A: Late lodgement of your BAS can result in penalties and interest charges from the ATO. Our BAS agents ensure your statements are submitted on time, helping you avoid these costly fees.
Q: How do I get started with your BAS services?
A: Getting started is easy! Simply Contact Us to schedule an appointment with one of our BAS agents in Bankstown.
Contact Your Local BAS Agent in Bankstown Today!
Don’t let BAS obligations overwhelm you. Contact Tax Essentials today to speak with one of our experienced BAS agents and find out how we can help you manage your Business Activity Statements with confidence.
- Phone: (02) 9793 1547
- Email: admin@taxessentials.com.au
- Location: 8 66/72 Rickard Rd, Bankstown NSW 2200