Business Activity Statements and Instalment Activity Statements Services
Welcome to HelloLedger, your trusted ally in navigating the complexities of Business Activity Statements (BAS) and Instalment Activity Statements (IAS).
For business owners in Australia, ensuring compliance and maintaining accurate financial reporting is paramount.
Yet, managing BAS and IAS obligations can often be overwhelming, consuming significant time and resources that could be better spent on core business activities.
​
Embark on a journey to financial efficiency and compliance excellence with HelloLedger. Contact us today to learn more about how our BAS and IAS services can benefit your business and contribute to its long-term success.
With HelloLedger, you can focus more on growing your business and less on the complexities of tax compliance.
Challenges of BAS and IAS Compliance
Operating a business in Australia is challenging, and the detailed requirements of preparing BAS and IAS only add layers of complexity.
Many business owners struggle to stay abreast of the ever-evolving regulations, classifications, and reporting standards.
The tasks involved—deciphering complex tax codes, meticulously tracking numerous transactions, and aligning every detail with the Australian Taxation Office (ATO) guidelines—pose a significant burden.
The risks of errors, late submissions, and potential penalties can create stress and distract from the essential operations of your business.
HelloLedger’s BAS and IAS Services: Your Path to Hassle-Free Compliance
At HelloLedger, we recognise the critical impact of BAS and IAS preparation on your business. Our expert accountants specialise in the nuances of Australian taxation, turning what is often seen as a mere compliance obligation into an opportunity to enhance your financial strategy.
Expert Guidance
Our team comprises experienced professionals deeply familiar with Australian tax laws. We are committed to staying updated with all legislative changes to ensure your business remains compliant. and informed.
Accuracy Assurance
Utilising advanced accounting technologies and meticulous processes, we minimise the risk of errors, ensuring accurate and reliable submissions of your BAS and IAS every time.
Timely Submissions
We understand the critical importance of deadlines in tax reporting. With HelloLedger, you can be confident that your BAS and IAS will be prepared and submitted on time, thus avoiding any penalties associated with late filings.
BAS and IAS FAQs
-
What is a Business Activity Statement (BAS)?
-
​
-
A Business Activity Statement (BAS) is a form submitted to the Australian Taxation Office (ATO) by businesses to report their tax obligations, including Goods and Services Tax (GST), Pay As You Go (PAYG) withholdings, PAYG instalments, and other taxes. BAS is typically lodged quarterly, though some businesses may qualify for monthly or annual lodgment.
-
Who needs to lodge a BAS and IAS?
-
​
-
Businesses registered for GST must lodge a BAS, while those who pay PAYG instalments or withhold tax must submit an IAS. The requirement to lodge either statement depends on your registration for these taxes and your business’s turnover.
-
What are the deadlines for lodging BAS and IAS?
-
​
-
Deadlines for lodging BAS vary depending on the reporting cycle—monthly, quarterly, or annually. Monthly lodgments are due on the 21st day of the following month, while quarterly lodgments have staggered deadlines. For IAS, the due date is typically the 21st day of the month following the reported month.
-
What is an Instalment Activity Statement (IAS)?
-
​
-
An Instalment Activity Statement (IAS) is used by businesses, including those not registered for GST, to report their PAYG instalments, PAYG withholding tax, and other taxes. It is usually submitted monthly and is essential for managing tax commitments on income earned during the period.
-
​
-
How can I determine if I need to lodge a BAS or an IAS?
-
​
-
Your requirement to lodge a BAS or an IAS depends on your business structure, registration for GST, and whether you employ staff and withhold taxes from their wages. The ATO typically informs businesses of their reporting requirements based on their tax registrations and business activity.
-
Can HelloLedger help with preparing and lodging my BAS and IAS?
-
​
-
Yes, HelloLedger offers comprehensive services for preparing and lodging both BAS and IAS. Our experienced professionals ensure that your statements are accurate and lodged on time, helping you avoid penalties and manage your cash flow effectively.
-
What information do I need to provide to prepare my BAS and IAS?
-
​
-
To prepare your BAS and IAS, you’ll need to provide detailed records of all transactions that involve GST, PAYG instalments, and withholdings, including sales, purchases, payroll, and other business expenses. Keeping meticulous records is crucial for accurate reporting.
-
What can a Registered Tax Agent do for my business?
-
A Registered Tax Agent can manage all tax-related matters for your business, including the preparation and lodgment of BAS and IAS, ensuring compliance with tax laws, providing tax planning advice, and representing your business in dealings with the Australian Taxation Office (ATO).
-
Is HelloLedger a Registered Tax Agent?
-
​
-
Yes, HelloLedger is a Registered Tax Agent authorised to handle taxation affairs, ensuring compliance with all Australian tax laws and regulations.
-
Why is BAS preparation essential for my business?
-
​
-
BAS preparation is essential for complying with Australian tax regulations. It provides a detailed record of your GST liabilities and credits, PAYG withholdings, and other tax obligations, ensuring accurate reporting and contributing to your overall financial health. Regular BAS lodgment helps maintain good standing with the ATO.
-
How can HelloLedger simplify the BAS process for my business?
-
​
-
HelloLedger’s team of experienced accountants utilises state-of-the-art tools and their expertise to streamline the BAS preparation process. By handling the complexities of tax reporting, we allow you to focus on core business activities, simplifying financial management and ensuring compliance.
-
What happens if my BAS submissions are inaccurate or late?
-
​
-
Inaccurate or late BAS submissions can lead to penalties and interest charges from the ATO. HelloLedger ensures accuracy and timeliness in your BAS lodgment to avoid these risks, helping maintain your business’s credibility and compliance.
-
Do I get extra time to lodge my BAS or IAS with a Registered Tax Agent?
-
​
-
Yes, working with a Registered Tax Agent like HelloLedger can provide you with extended lodgment deadlines for your BAS and IAS. This extension allows for more thorough preparation and ensures that your submissions are both accurate and timely.
-
Do I get extra time to pay my BAS with the extended lodgement dates for Registered Agents?
-
​
-
Yes, that is a further benefit of lodging through a Registered Tax Agent like HelloLedger. For example, lodging via paper form payment is generally due 28 days after the end of the quarter. However where lodged through a Registered Tax Agent, you can get almost two months to pay.
-
Is HelloLedger’s BAS service suitable for small businesses?
-
​
-
Absolutely. Our BAS services are designed to meet the needs of businesses of all sizes, including small startups. We tailor our solutions to fit your unique requirements, ensuring you receive the most efficient and effective service.
-
How can I get started with HelloLedger’s BAS services?
-
​
-
Getting started with HelloLedger’s BAS services is straightforward. Simply schedule a consultation with our team to discuss your business’s specific needs, and we will craft a customised BAS management plan for you. Experience hassle-free BAS preparation with HelloLedger.