Your trusted Brisbane
Gecko Bookkeeping Services take the BS out of BAS! Avoid headaches and potential lodgement errors with your Business Activity Statement by letting your loyal, trusted BAS agents help today. We take the jargon and confusing acronyms away from compliance to ensure your yearly or quarterly BAS lodgement is fast, easy to understand and affordable.
Choose Gecko from the get-go
Our Gecko team have been trusted bookkeepers for over 10 years, providing both large and small businesses personalised BAS Agent Services. Our bookkeeping services go hand in hand with each BAS service to give you peace of mind, ensuring on your behalf that you are meeting tax obligations and staying on top of ATO-compliancy.
We can prepare, lodge and manage your BAS for you electronically each period with the Australian Tax Office (ATO). The preparation of your BAS includes not only a check of the processes leading up to the production of your BAS, but a review of individual transactions to check for GST compliance, and correct processing. We can also liaise with the ATO on your behalf, with a personalised creative approach to GST issues and organising ATO payment plans and/or debts.
Find out why each member of our Gecko Bookkeeper team is a trusted BAS agent Brisbane businesses need.
Why do i need a BAS Agent?
Whether you're a sole trader, small business owner, or run a company, there are many benefits in employing a registered agent to help with your Business Activity Statements and some argue that it's a must to outsource this service. Although it is possible to handle your BAS yourself, the preparation and technicalities involved can be confusing and time consuming at the least, but failure to lodge correctly can get you into hot water with the ATO. There's enough on your plate running your own business, and often the last thing you want to independently keep on top of is ATO compliancy!
The Australian government's new legislation states that only registered BAS agents (or Tax agents) can establish on your behalf the tax liabilities and obligations of your business or communicate on your behalf with the ATO. This is because the government recognises that in order to lodge a sound and compliant BAS for someone, you need adequate training and knowledge to offer these services correctly. A registered BAS or tax agent will be recognised as being licensed by the Tax Practitioners Board. Bear that in mind, and imagine how easy it could be to miss a calculation unknowingly, and end up owing the ATO down the track.
This is why most smart business owners utilise trusted registered BAS agents to prepare and lodge each business activity statement on their behalf. In addition to peace of mind, employing a BAS agent also has great benefits not available to business owners, such as being able to provide you an automatic 14 day extension.
Did you know?
Business Activity Statements are a tax reporting requirement
A BAS is essentially a form required to be filled and lodged outlining your tax obligations, if you have any. If your gross business turnover reaches, or is expected to reach over 75k for the annual year, it's your responsibility to register for Goods and Services Tax (GST). Failing to do so - even unknowingly - can result in having to pay back owed GST, as well as possible incurred penalties and interest. The same can be said if you are registered for GST and fail to meet these dates.
If your business is registered for GST (either voluntarily or if your turnover passes the 75k threshold), regardless of your business size, the Australian Taxation Office (ATO) legally requires you to lodge your BAS either quarterly or monthly, depending on your specific requirements.
BAS statements must be submitted before the due dates
The ATO requires every business registered for GST to submit BAS statements prior to the due dates. If you can't pay on time, you may be eligible to enter a payment plan
Penalties apply for business that are not compliant with BAS obligations
If your BAS isn't lodged with the ATO by the due dates, you could face late payment penalty charges, as well as interest penalties on the amounts you owe after these due dates. These penalties can add up to a hefty summary and for some small business owners, the cost can be crippling. The due dates and obligations for each business owner differs depending on your turnover, whether you are voluntarily registered, and the options you are able to select in terms of how often you report and the costs owing for your GST.
IN OUR OFFICE OR YOURS.
Preparation of financial services
Our Gecko Bookkeeping team love taking away the stress and confusion that comes with handling finances and obligations for our business owners. We help simplify tax processes and breakdown confusing jargons to help understand more about your businesses financials and tax requirements. Our personalised agency connects you with the the right Gecko BAS Agent to give you assistance and advice for BAS preparation and BAS lodgement, and end of financial year reconciliation.
All of our BAS Agent Services will provide you with ATO correspondence and can help with the setup of payment plans and extensions if needed. Each of our qualified and registered BAS Agents will take care of almost all financial obligations outside tax returns or any services that fall directly under and accountant or registered tax agent services. In saying that, Gecko Bookkeeping have a black book of expert accounting firms that we offer directly to our clients.
Tired of managing your finances yourself? We're just a phone call away from a good nights sleep.
Lodgement of business activity statements (BAS) and instalment activity statements (IAS)
Lodging your BAS on time for owed GST, PAYG withholding tax, PAYG instalments or other taxes such as FBT (Fringe Benefits Tax) can be confusing and stressful enough. Keeping on top of your tax owing can be incredibly difficult without the right knowledge or bookkeeper support. Forecasting what you will owe can be complex, and often small businesses don't have the money prepared to make payments.
Using a BAS Agent takes the stress out of your ATO obligations and payments. Our team can create you a process for payment plan instalments to help you get back on track.
Almost any business owner will be familiar with the term Instalment Activity Statement, or IAS, as this is a form all non GST registered taxpayers are obligated to submit and pay monthly if their business turns over 25k per annum. IAS can also apply if your business deals with PAYG Instalments, PAYG withholding, and/or FBT Instalments, regardless of whether you are GST registered.
Our BAS agents can also manage all of your IAS form preparations and submissions to further ease your month to month work load.
If you have any employees that must be paid (including yourself, with the exception of sole traders) you will need to be registered for PAYG withholding. This registration can be made while you are registering for GST, or at anytime you decide to start employing others under your ABN.
PAYG withholding is a quarterly, monthly or weekly calculation made in accordance with the ATO'd tax scales. These calculations depend on the information supplied in each employees tax file number declarations. The frequency of this will depend on PAYG withholding for a year. In saying that, businesses are permitted to request higher regularity if this is easier for them. Working with a registered BAS agent can help you navigate through these obligations and advise you on the best courses of action for your business.
Calculate GST owed
Calculating your GST owing is essentially a mathematical format needed to find out how much GST you owe for your goods and services for the year, quarter or month compared to how much GST you have paid for within your business during this time. There are two methods used for calculating GST, which is either a cash or accrual method. Each method used is dependant on what type of business you have, your turnover and what cash basis you run on.
In the last few years, the ATO has put a major emphasis on ensuring Employers are fully compliant with their Superannuation Guarantee Contributions.
Not maintaining your Superannuation compliance can have a significant negative impact on your business's bottom line with large fines, penalty interest and reduction in allowable tax deductions. Gecko bookkeeping services can give you peace of mind and help take the stress out of meeting your employer compliance obligations.
Get to know your Acronyms
Getting a bit confused by all of these acronyms? We get it. Hover over an acronym to uncover what it stands for.
Business Activity Statement
Goods and services tax
Australian tax office
Want to understand more about these acronyms? Check out the ATO page
Pay as you go
Taxable payments annual report
Single touch payroll
Our Brisbane BAS Agents
Our Registered BAS Agents are highly motivated, well trained and committed to helping you save time and money. We offer unique sets of expertise across a dynamic set of industries and provide exceptional accuracy across small important details such as data entry. Gecko Bookkeepers pride themselves on being approachable, for us, no client is too small or large - your business is important to us regardless of who you are or what you do. Our main aim is to understand your business and solve your pain points in order to help you succeed. Meet the team today.
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“I need to lodge my BAS to report my GST to the ATO.
If I have employees I must register for PAYG.”
BAS is essentially a report you are obliged to file and lodge quarterly if your business income exceeds $75,000. Once your gross earnings come close to or are projected to surpass this amount, you’re obligated to pay Goods and Services Tax (GST). This is regardless of how much you invested back into your business for the year.
What is BAS and do you need to lodge one?
Your BAS statement reports your business revenue to the ATO for the quarter and reports exactly how much you earned in GST and how much you spent on GST, as well as any employee wages and PAYG withholding tax.
Why choosing to use a registered BAS agent is a smart choice:
Firstly, there’s a lot of confusing maths. Lucky for you, our bookkeepers love math and have failsafe strategies to ensure your incomings and outgoings are all lined up. We also ensure you’re compliant - that means no scary ATO fines down the track.
We can help ensure that everything you have spent is claimed, and if you do owe the ATO, going to a registered BAS agent will get you an additional FOUR WEEKS to make payments which can be great for helping with your business cash flow (this Excludes monthly PAYG). We can help lower your GST payable amounts by accurately coding your transactions.
It's a whole lot quicker, and we can give you more time to if you owe any GST. We’ve got years of experience lodging BAS, we know what to look for, how to effectively report and we save you lots of time as well as creating peace of mind.
WHAT COMES NEXT
After we lodge your BAS report, you will either have a GST refund owed to you - that is if your GST expenses outweigh your sales, or a GST payable - common (and ideal) for most, as often your sales should be larger than your GST expenses. From here, our team and the expert managing your lodgement will ensure either the refund is sent to you quickly and directly, or allocate you options on how to pay your BAS. If you should have any issues relating to compliance, we can handle that too.
Your team of experts
THERE'S A CLOUD-BASED SOFTWARE FOR THAT
Keeping your finances in paper records is a thing of the past. We’re software experts, and certified partners with Australia’s award winning accounting software specialists.
Your business, no matter how small or large can now be managed entirely in secure, efficient software accessible anywhere.
By going paperless - you’re not only reducing your carbon footprint, our team ensure our clients have efficient business management, lower tax payments and ultimately, better financial results and management. Take your business to the next level in the cloud.