Can tax agents lodge BAS?
If you have a registered tax or BAS agent they can lodge, vary, and pay on your behalf through their preferred electronic channel. When you use an agent: they can view BAS and reminder messages sent to you via their online service.
When can you lodge annual BAS?
You have a limited period of time at the beginning of each financial year to elect to report annually. You can elect between 1 July and: 21 August – if you currently report GST monthly. 28 October – if you currently report GST quarterly.
How often are BAS statements lodged?
4 times a year
Typically small to medium business are only required to lodge BAS’s once every quarter (4 times a year). However businesses may elect to lodge monthly should they wish (i.e. to keep on top of cash-flow).
What happens if you lodge your BAS late?
If your BAS is not lodged with the ATO by the deadline, you may be charged late payment penalties by the ATO. Similarly, if you pay late, the ATO can impose interest penalties on any amounts owing after the due date. If you can’t pay on time, you may be eligible to enter a payment plan.
What date is GST due this month?
Your GST return is due by the 28th of the month after the end of your taxable period. For example, the GST return for the taxable period ending 31 May is due by 28 June. There are 2 exceptions to this date: The GST return for the taxable period ending 31 March is due by 7 May.
Do you need to be a BAS agent to lodge BAS?
Preparation of BAS requires specific technical knowledge and plenty of practice. If your bookkeeper is employed in your business, s/he is able to prepare and/or lodge your BAS on your behalf. However, if your bookkeeper is a contractor, s/he must be a registered BAS Agent in order to provide you with BAS services.
What tax obligations are reported on the BAS?
The business activity statement (BAS) is a form submitted to the Australian Taxation Office (ATO) by registered business entities to report their tax obligations, including GST, pay as you go withholding (PAYGW), pay as you go instalments (PAYGI), fringe benefits tax (FBT), wine equalisation tax (WET) and luxury car …
Do you need to lodge BAS if not registered for GST?
If you aren’t registered for GST, then you’re not required to lodge a BAS. GST registration is required for businesses that have a turnover of $75,000 or more or offer taxi travel.
Do sole traders need to lodge BAS?
Some sole traders believe that avoiding having an ABN will avoid the need for lodging a Business Activity Statement (BAS) every quarter. The requirement to complete BAS only comes in once you’re registered for GST.
How do I get a copy of my BAS statement?
If you need paper, call the ATO to discuss. ATO are phasing out paper, they are all available in the business portal or MyGov. If you need paper, call the ATO to discuss.
What is the Bas agent lodgment Program 2019-20?
The BAS agent lodgment program 2019–20 includes: lodgment and payment concessions when you electronically lodge eligible quarterly activity statements a lodgment concession for pay as you go (PAYG) withholding payment summary annual reports (not the closely held concession).
When to use bas agent lodgment and payment concessions?
The BAS agent lodgment program 2021–22 includes: lodgment and payment concessions when you have elected on behalf of your client to receive and lodge eligible quarterly activity statements online a lodgment concession for pay as you go (PAYG) withholding payment summary annual reports (not the closely held concession)
When to use bas agent for GST lodgment?
21 February – December monthly business activity statements for business clients with up to $10 million turnover who report GST monthly and have elected to receive and lodge electronically using a registered agent. BAS agent concession for lodgment and payment if lodging by Online services for agents or PLS
Where do I find Bas lodgement due dates?
Bas Statement Due Dates. BAS or IAS return lodgement dates are specific to your registration type and the arrangements you have with the Tax Office. The actual due dates for each of your lodgement periods are printed on the forms issued to you by the Tax Office, or advised to you electronically.
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