GST Return Preparation

Generally, businesses and other organisations registered for GST will:

  • include GST in the price they charge for their goods and services
  • claim credits for the GST included in the price of goods and services they buy for their business.

You report and pay GST amounts to the tax office, and claim GST credits, by lodging a business activity statement (BAS) or an annual GST return. The business activity statement (BAS) is a tax reporting requirement for businesses on either a monthly or quarterly basis. It’s used for reporting and paying goods and services tax (GST), pay as you go (PAYG) instalments, PAYG withholding tax and other tax obligations.

Your business activity statement is issued about two weeks before the end of your reporting period, which for GST is usually every three months. The date for lodging and paying is shown on your activity statement.

Do you have to prepare GST returns?

BAS preparation is a part of business life, whether you are a sole trader or a large company. The good news is that you don’t have to bear this burden on your own. We can help you with your GST related needs, including ABN and GST registration, and preparing and lodging Business or Instalment Activity Statements.

For more complex GST issues, we are on hand to provide advice as needed.

To make your GST compliance easier and quicker we can assist you in buying, setting up and using accounting software packages such as MYOB. We have professionals in our office who are happy to take your questions!

If you are registered for GST you must complete an activity statement every month, quarter or annually. This requires your financial records to be up-to-date and current, and we can help you with this, too.

Don’t risk a penalty.

If the information you are submitting to the Australian Taxation Office is incorrect and late, you could be charged penalty interest and fines if you’re not meeting legislative requirements.

We offer you peace of mind that qualified, professional staff are working with you to prepare accurate and timely statements for the Australian Taxation Office.

If you need help with your GST and other tax obligations, please contact us today.