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BAS Preparation Services
What is BAS?
What is BAS?
Your BAS is designed to help you pay for, and report:.
• PAYG (pay as you go) instalments.
• PAYG withholding tax.
• Goods and services tax.
• Any other taxes
What is a BAS service?
When to Register for GST
Goods and service tax can be registered for online, or through Geekbooks, as your registered BAS agent. This can be done when your business is first registered, or at a later date. It’s important to check regularly whether your business has reached the threshold for GST if it has not previously done so. GST needs to be registered for when:

BAS Agents - Why Hire a BAS Agent?
As a registered BAS agent, Geekbooks can assist in BAS preparation, submission, and lodging. But why use our services as opposed to doing it yourself? Here are some reasons:
Some companies may choose to hire an employee specifically to take care of accountancy requirements such as GST. However, this may prove to be a waste of resources when you have the option to simply pay for our expert services. Our sole purpose is GST preparation and lodging, meaning we don’t require the same as an employee and can work more efficiently with only one task on our minds.
With years of experience completing BAS, you can sleep easy knowing that your statement is in good hands. As a BAS agent, we have optimum knowledge and expertise of the field, meaning we never make mistakes. Our attention to detail is unmatched, and our services are the best in the area.
By supplying a BAS service, we are required to be registered by the Tax Practitioners Board, meaning you can share your information with us with the assurance that it is completely safe and secure.

We guarantee that with our focus being on this one issue, your GST will be completed much quicker than it would by someone in your workforce with a multitude of other financial duties. Allow your time and money to be spent elsewhere.
GST can be a confusing and stressful requirement. By investing in our services, we can relieve some of this pressure by taking it upon ourselves. Our service is simple and personalised, but can be done by us with ease. Allow us to take on your stress and do the job that we are trained to do.
Some common industries that usually have to register for GST include:
Advertising | Aviation and Aerospace | Construction | Charities and Non-profit Organisations | Finance | Automotive | Real-Estate | Travel | Retail
How to Find a Registered BAS Agent
It’s important to remember that after October 31st 2020, if you don’t use a registered agent, you’ll risk being fined for breaching tax lodgement regulations.

Some things to consider when choosing a BAS agent are:
> Their qualifications
> Their licenses
> How long the practice has been functioning and how long the agent has been working there
•>The kinds of services they offer
> How much access you will have to data
> How long the work will take to be completed
Avoid the risk of a bad lodgement
Up-to-date knowledge of BAS reporting changes
Why Choose Geekbooks?
How to Fill Out a BAS Statement

You’ll find that many Australian banks can provide GST bank accounts with no, or at least limited, fees. If you use this to set some money aside in a separate GST account, it’ll be easier to pay taxes when the time comes.
Your total sales will include everything except dividends or donations, while GST-free sales will include any sales of basic beverages and foods. We’ll then use these figures to calculate the sales for the full reporting method and report any capital and non-capital purchases. After reporting the total amount of GST that your business is liable for in the summary section, your statement will be finalised.
Don’t forget, you might not have anything to report for each period. However, ATO still requires you to lodge a BAS, in which case, you can use their automated phone line.
Fixing BAS Mistakes
Keeping on Top of Your Business
Being required to submit a BAS is a good opportunity to keep on top of your business records.

• Make sure to keep an up to date record of all business costs including wages, expenses, sales and fees.
• Keep logbooks and stocktake records to provide evidence of any motor vehicle claims.
• Make sure sales and bank statements are reconciled.
• Keep GST and tax invoices for at least five years.
• Do not claim for any purchases in which GST is not included in the price, for example, stamp duty, bank fees, basic beverages and foods.
• Imported goods. This is only relevant if you are the importer, and the goods are being used for your business.
• Any purchases made within a GST group. However, purchases between GST branches can be claimed.
Claiming GST Credits
• You can only claim GST credits for business-related purchases.
• Make sure to keep an up to date record of all business costs including wages, expenses, sales and fees.
• Keep logbooks and stocktake records to provide evidence of any motor vehicle claims.
• Make sure sales and bank statements are reconciled.
• Keep GST and tax invoices for at least five years.• If your purchase has a discounted price but this doesn’t appear on the invoice, you must still claim GST for the discounted price.• Make sure to keep an up to date record of all business costs including wages, expenses, sales and fees.
• Keep logbooks and stocktake records to provide evidence of any motor vehicle claims.
• Make sure sales and bank statements are reconciled.
• Keep GST and tax invoices for at least five years.• Make sure to keep an up to date record of all business costs including wages, expenses, sales and fees.
• Keep logbooks and stocktake records to provide evidence of any motor vehicle claims.
• Make sure sales and bank statements are reconciled.
• Make sure sales and bank statements are reconciled.
• Keep GST and tax invoices for at least five years.
• If you use cash to account for GST, claim for the credits up-front for products under hire purchase agreements.
• Remember to use the Australian dollar for GST credits even when claiming in a foreign currency
• You can sometimes be required to repay GST credits if your business changes.
Your Questions Answered
A high level of professionalism, certification, experience, and competence is required to work as a BAS agent. To stay current in the ever-changing corporate and regulatory settings, BAS agents must engage in frequent professional education.
BAS agents process, calculate and advise business owners on the exact amounts of liabilities, as well as complete numerous statutory reporting procedures. Registered agents can develop and install business systems, accounting software, and payroll software to meet the demands of the firm and give reliable financial information. They also offer business owners advice on payroll, BAS provisions, relevant laws and compliance obligations.
You can file your BAS annually, quarterly, or every month. If you don’t have a separate bank account for your GST and other payments, you should opt to make regular payments. The ATO will recommend a period depending on how much they believe you will withhold each month. However, you can always opt for a shorter interval. If you hire a professional to do your books, you should pick a longer interval because each lodgement would incur expenses.
In any case, you should constantly be informed of the amount you’ll be required to pay the ATO on your next BAS. The more often you utilise the funds in your assets, the more difficult it will be to meet your responsibilities at BAS time.
- GST.
- Payroll processing, including tax withholding and reporting obligations.
- Other PAYG withholding amounts include no ABN, dividends and interest.
- PAYG Instalments are used to pay income tax.
- Wine tax, luxury car tax and fuel tax.
- Payments for Fringe Benefits Tax (FBT).
- Annual Reporting System for Taxable Payments
- The Superannuation Guarantee system.
BAS Agents may also help with the design, set-up, and implementation of company compliance systems, as well as advise on how various areas of legislation influence them. They also evaluate client activities to assure compliance.
Before seeking registration, qualified bookkeepers must earn at least 1,000 hours of relevant experience under the supervision of a registered agent. BAS agents often operate as independent contractors for their own customers. However, they may also be employed or contracted by bookkeeping or accounting businesses.
Before you decide whether or not you want to do your BAS by yourself, you should consider if you want to perform all of the business’s bookkeeping independently. This choice will be based on how effectively you keep your books and how much time you have available to do so. Accounting software can help with bookkeeping, but it is only as good as the data you input into it! In general, if you just have one business bank account through which all of your business transactions are processed, you may be able to perform your own bookkeeping. Just be certain that you:
- Enter all money coming in from sales with GST attached.
- Check for any money moving out of a GST-allocated transaction.
If you can manage this, GST reporting should be a straightforward process for you. If your accounts do not fall into these categories, consult your accountant. You may also hire professional help at an affordable rate if you are experiencing difficulties or if it is your first time undertaking the process.
Testimonials
Geekbooks has helped
Director of Coding Cave
True Professionals
Windsor NSW
Managing the Books
We have been using Geekbooks bookkeeping services since the end of 2017. They have really taken the stress out of managing the books, as no request is too small or too big. They are quick, efficient and professional and my business would not be in the position it is in now if I didn’t have them backing me every single step of the way. Weekly payroll is now a stress free day for me as all I need to do is send a report of hours worked for employees and they calculate the rest. Never been so stress and hassle free in my life since when I signed up with Geekbooks
Milperra NSW




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