Posts by BAS Lodge

What To Not Report On Your BAS

A common mistake made by small businesses is to report items on their Business Activity Statement (BAS) which are not required to be reported. Reporting incorrectly can disproportionately inflate your business’ figures. As a BAS is specifically designed to determine how much of certain business taxes you owe to the ATO, inflated figures could cause…

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The Difference Between A BAS And An Income Tax Return Lodgement

For all business owners, especially those who are sole traders, it is important to know the difference between a Business Activity Statement (BAS) and an Income Tax Return. Both will need to be completed regularly and carry their own individual obligations.It can become difficult for Sole Traders to understand the distinct differences between their income reporting…

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Top 10 Mistakes You Can Make In Your BAS Lodgement

Mistakes do happen from time to time when lodging a BAS. A busy business can be a great distraction from lodging your BAS. Unfortunately, by the time you get to it, in the rush to lodge it, you make a couple of mistakes. Or perhaps it is your first BAS, which can be intimidating. But the mistakes happen either…

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BAS Explained For Small Businesses

So, you have decided to start a new business. Congratulations! Starting your own business can be rewarding and a great move for many people. It may come with some stresses, but with the right tools and knowledge you will be able to overcome it and make your business successful. One thing all new business owners will…

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Implications Of Late BAS Lodgements

Business Activity Statement due dates are important not to miss. The ATO are constantly increasing their efforts to ensure that businesses are lodging their BAS on time and correctly. However, sometimes it is easy to forget a due date. There are many distractions or priorities in the world of small business. But if you have…

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BAS And GST Implications For Rideshare Drivers

If you are driving for a ridesharing service, then you are running your own business. That means you will have some tax obligations that you must fulfil throughout the year.   A rideshare driver is not an employee or contractor of a specific rideshare operator – whether it be Uber, DiDi, Ola or various others. Therefore, you are…

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Why Should You Use A BAS Agent?

One of the best ways for businesses to lodge their BAS is through a BAS Agent. They offer many services, protections and extras that you will not be able to receive when lodging your BAS on your own. This is why so many businesses use a registered BAS Agent to lodge their BAS. But for…

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9 Tips For An Easier BAS

Optimising your business’ processes around GST and BAS will help you immensely. It could help you manage your business’ cashflow and reduce the time it takes to get a refund. If you ever find yourself scratching your head over GST and BAS, worry no more, follow our 9 tips and you will have a much…

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What Is The Difference Between A Tax Return And A BAS?

Both tax returns and Business Activity Statements (BAS) are important for business owners to complete and lodge by their required due dates. Each, however, serve their own purpose, providing specific information to the ATO. But both require some similar information regarding income, expenses, and GST.   Should I put income and expenses on both my BAS…

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