BASS & GST Lodgements
At Thompson and Wallace Partners, we understand the importance of compliance with Australia’s GST and BAS regulations. That’s why we offer comprehensive lodgement services for both individuals and businesses.
Our team of experienced accountants will work with you to ensure that your returns are lodged on time and that you claim all the eligible credits and deductions.
We can also provide advice on how to best manage your GST and BAS obligations in the future.
Contact us today to learn more about our GST and BAS lodgement services.
What is GST and BAS
GST stands for goods and services tax. In Australia, GST is a 10% tax that is payable on most goods and services sold or consumed in the country. GST is charged by businesses and is collected by the Australian Taxation Office (ATO). BAS stands for business activity statement.
A BAS is a form that businesses must lodge with the ATO each quarter to report their GST liability. Lodging a BAS is important because it ensures that businesses are paying the correct amount of GST. If a business does not lodge a BAS, they may be liable for interest and penalties. Therefore, it is important to lodge your BAS and GST on time to avoid any potential penalties.
