Business Activity Statements

BAS Returns With Xero

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BAS and IAS Returns

Xero makes it easy to prepare both Full and Simpler Business Activity Statements (BAS) and Instalment Activity Statements (IAS).

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 Australian Tax Office (ATO) through qualified BAS agents.

We will also liaise with the Tax Office on your behalf.

full bas returns

If you are registered for GST you must lodge BAS returns with the ATO to help you to report and pay:

  • 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)

Including the following GST information:

  • G2 Export sales
  • G3 Other GST-free sales
  • G10 Capital purchases
  • G11 Non-capital purchases

Other taxes are reported in the same way on Full returns as they are on Simpler returns.

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

Other taxes such as FBT are reported in the same way on Simpler returns as they are on Full returns.

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