Business Activity Statement commonly abbreviated as BAS is very important to the businesses registered for GAS (General Sales Tax) in the first place. Your BAS agent will assist you in reporting & paying for your services and goods taxes, withholding tax, pay as you go and other taxes including GST, PAYG etc.
The payment & lodgment discount is implemented on its own when you get the BAS in an electronic form and it suits the eligibility criteria. Accomplishing a BAS is how you pay and report your commercial taxes to ATO. The simple statement about the word BAS is adequate to understand the role of a BAS agent.
Let’s go through some more facts and findings that are interesting. Many company holders break out in perspiration. Are you aware of the role of a BAS agent? It is befittingly said that necessity is the mother of invention. For instance, you fail to unscrew something without the required gear; you will try to get the job done using something different.
In business, you need to do a lot of things at the same time. You may go mad if you try to do all of them at the same time. Do them one by one and hire a BAS agent when and where needed – this will work to your advantage. You do something when you need them and you do something just for fun. In order to perform something, you may need something or someone. A person can’t do each and everything alone.
It is very important to know the facts before becoming part of something. Knowledge is a big blessing. Knowledge is power. Honestly is the best policy. Little drops make an ocean. No job is big or small once you have made up your mind to do it. Hard work never goes unpaid.