bas

BAS 101: A Business Guide to BAS and GST

BAS 101: A Business Guide to BAS and GST

Lodgement or filing in the BAS or Business Activity Statement is a legal obligation for all businesses operating in the country. It is the country’s tax reporting and collecting tool and the Australian Taxation Office (ATO) have set specific rules and regulations on BAS and GST lodging. Non-compliance, inaccuracy and late lodgement can lead to penalties, fines and other sanctions