Professional BAS & IAS Lodgement Services in Melbourne, VIC

BAS / GST / IAS Lodgements

In Australia, businesses are required to report their financial activity periodically to the Australian Taxation Office (ATO) through Business Activity Statements (BAS), Goods and Services Tax (GST) returns, and Instalment Activity Statements (IAS). Each of these lodgements serves a specific purpose in ensuring tax compliance and accurate reporting.

Business Activity Statement (BAS)

  • Purpose: A BAS is used to report and pay several tax obligations, including GST, Pay As You Go (PAYG) withholding, PAYG instalments, and other taxes.
  • Frequency: BAS is typically lodged quarterly, but some businesses may be required to lodge monthly or annually depending on their turnover.
  • Requirements: Businesses must report their total sales, purchases, GST collected, GST credits claimed, and other tax obligations.

Goods and Services Tax (GST) Lodgement

  • Purpose: GST is a value-added tax of 10% on most goods and services sold or consumed in Australia. GST lodgement involves reporting the GST collected on sales and the GST paid on purchases.
  • Frequency: Usually reported as part of the BAS, either monthly, quarterly, or annually.
  • Requirements: Businesses must report GST collected on taxable sales and GST paid on business-related purchases to calculate their net GST payable or refundable.

Instalment Activity Statement (IAS)

  • Purpose: An IAS is used by taxpayers who are required to make PAYG installments but are not registered for GST or for other tax obligations not covered by BAS.
  • Frequency: Lodged monthly or quarterly, depending on the taxpayer’s PAYG installment schedule.
  • Requirements: Includes reporting of PAYG instalments, PAYG withholding amounts, and other tax obligations not included in BAS.

Find out more about our extensive BAS and IAS services by giving us a call on (03) 7050 9090.