Xero makes it easy prepare and lodge both regular and simple Business Activity Statements (BAS). Because of this, we can easily prepare your BAS returns from your Xero file before they are checked and lodged by a qualified BAS agent.
BAS time comes around quickly. Nobody enjoys scrambling to get their accounts ready for their BAS returns when they have a business to run. By keeping your accounts up-to-date with Xero, we help take this pressure off you. We keep your Bookkeeping up to date, reconcile the appropriate accounts at BAS time, transfer the numbers to your Xero file’s BAS return and lodge the returns with the Tax Office through a qualified BAS agent.
We will also liaise with the Tax Office on your behalf.
If you are registered for GST you must lodge BAS returns with the Tax Office to help with reporting and paying:
- Goods and Services Tax (GST)
- Pay As You Go instalments (PAYG)
- PAYG withholding tax
- Fringe Benefits Tax (FBT)
- Luxury Car Tax (LCT)
- Fuel tax credits
- Wine Equalisation Tax (WET)
Simpler BAS Returns
Since July 2017 businesses with a turnover of less than $10 million may submit returns under the Simpler reporting method instead of the Full method. If you qualify for the Simpler BAS reporting method the following information is required in the GST section of each return:
- G1 Total sales
- 1A GST on sales
- 1B GST on purchases
The following GST information is not required:
- G2 Export sales
- G3 Other GST-free sales
- G10 Capital purchases
- G11 Non-capital purchases
All of the above information is required for Full BAS returns.
Other taxes are reported in the same way for Simpler returns as they are for Full returns.