BAS/IAS/PAYGI Services
Accurate activity statement preparation with full ATO compliance.
Whether you’re a business owner with numerous compliance deadlines to manage, an accounting practice with numerous lodgments to manage, or a tax accountant in need of a reliable solution to support your practice during peak periods, Collab Accounting takes the stress out of activity statement preparation and lodgment.
Our solution ensures your BAS, IAS, and PAYGI obligations are calculated and lodged on time, as well as completely reconciled to your accounting records. No more stress, no more penalties, no more worrying about compliance – just accurate and timely lodgments, guaranteed.
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- Our BAS/IAS/PAYGI Services
GST Reconciliation
Our starting point is ensuring that the GST is done right. This begins with a good reconciliation. At our company, the reporting of the GST is not complete unless the output tax, which is the GST collected, is properly matched with the input tax credits, which is the GST paid.
Accurate Preparation of Activity Statements & Lodgement
We prepare the BAS, IAS, PAYGI, etc. with meticulous accuracy, ensuring that the figures for the GST payable or the refund due, the PAYG withholding tax due on wages, the PAYG installment, etc. are accurately worked out.
Reporting Support and Liaising with ATO
In the event that the ATO expresses concerns, raises discrepancies, or requires information to be provided regarding the activity statement lodged, we do it for you. As tax agents, we communicate with the ATO regarding the required information for the ATO, providing the required information for the ATO.
ATO/MyGov Profile Management
We can assist you with the management of the ATO online service. This is done to ensure that things run smoothly. We can update business information, connect the business with the tax agent, and update the ATO online service to ensure it is working for compliance.
- Our Capabilities
We handle the chaos, so you can build your business
Accurate Calculations Every Time
We guarantee accuracy in each calculation with our rigorous two-tiered system for GST, PAYG, and PAYGI applications. We check twice, then check again to avoid ATO penalties or interest.
Full GST Reconciliation
BAS is not an end in itself, but we take it a step further with BAS Reconciliation. Every transaction and GST code is subject to close scrutiny to increase accuracy and minimize audit risk.
ATO Liaison and Support
Need help dealing with the ATO about BAS? We've got you covered. We will contact the ATO on your behalf and clarify any issues to get the process moving efficiently.
Integrated with Your Accounting
we integrate with your existing bookkeeping and accounting software. We use the same software you do: Xero, QuickBooks, MYOB, or Sage.
Who We Work with?
We support business owners managing quarterly compliance, accounting firms handling client lodgements, tax accountants needing GST reconciliation support, and franchise operators meeting head office requirements.Â
How we Work?
01.
Ongoing Bookkeeping & GST Coding
Accurate bookkeeping with the correct coding of GST (e.g., GST-free, input taxed, capital acquisitions, etc.) is essential for maintaining the simplicity and accuracy of the BAS.
02.
Pre-Lodgement GST Reconciliation
We carry out extensive reconciliation of the GST before BAS, ensuring accuracy with the accounting records.
03.
BAS/IAS/PAYGI Preparation
Preparation of the BAS, calculation of the GST payable/refundable, inclusion of PAYG withholding, PAYGI installments, and verification with source documents.
04.
Two-Level Review
Our work is reviewed by a second professional to ensure accuracy, reconciliation, and compliance.
05.
Client Review & Approval
We provide you with a summary of the BAS, including the status of the GST, PAYG, and the due date. BAS is lodged after approval.
06.
Electronic Lodgement to ATO
Electronic BAS is lodged with the ATO, ensuring timely compliance, and a copy is issued to you.
07.
Payment Coordination & Follow-Up
We assist with the coordination of the payment, if required, and ATO assessment, ensuring the BAS lodgement requirement is fulfilled.
FAQs
A Business Activity Statement (BAS) covers GST, PAYG withholding, and other business taxes that need to be lodged on a quarterly basis. An Instalment Activity Statement (IAS) covers PAYGI installments, which are lodged on a quarterly basis but only apply to businesses that don’t have GST obligations. PAYGI stands for Pay As You Go Installments, which is the prepayment of income taxes based on your previous year’s income taxes. We provide all three services.
We ensure the accuracy of your BAS through intensive GST reconciliation, two-level review, and verification of all transactions to ensure that there are no errors. Our system is geared towards ensuring that there are no mistakes on your BAS.
We can assist you in reviewing your previous BAS lodged with the ATO and prepare amendment requests to the ATO to correct the mistakes on your BAS.
Yes. We specialize in BAS catch-up services. If you’re behind on your lodgements, we’ll work through the backlog of statements, complete all outstanding statements, lodge them for you with the ATO, and arrange penalty remission where necessary.
Yes. We’re familiar with complex GST issues such as margin scheme calculations for property developers, going concern exemptions for business sales, GST adjustments for bad debts, private use adjustments, and many more.
We’ll handle all ATO correspondence regarding your BAS lodgements. If the ATO queries your lodgement, requests documentation, or issues an audit notice, we’ll work directly with them on your behalf. We’re thorough in our reconciliation and documentation work, so we’re ready for any ATO contact.
- Ready to simplify your BAS obligations?
Contact us today for a free consultation and discover how Collab Accounting can handle your BAS, IAS, and PAYGI with accuracy, compliance, and peace of mind.
