3 THINGS
YOU NEED TO KNOW ABOUT BAS AGENT SERVICES:
GST can be either a very simple or complex matter, depending on factors that may be industry-specific to purpose-related. It’s important that you comply with these as any mistakes may cause interest or penalty charges from re-lodgements.
#1
The most important thing to understand about completing your business activity statement (BAS), is the definition of each label, and what should be included. It is of paramount importance as the Australian Taxation Office (ATO) will match this yearly against the annual returns, and any discrepancy may trigger a review.
#2
#3
Working with a BAS Agent will give you access to an extended lodgement date under the BAS Agent Lodgement Program. This provides you additional time to review activity statements, but also to be able to work with a professional to get a ‘second-eye’ over your accounts.
