Why Hire Accountants to Prepare and Submit Your Business Activity Statement?

by Aaron Colley on Mar 24, 2020 Business 152 Views


As per regulations, businesses that a registered for GST should prepare and lodge Business Activity Statement on a periodical basis!

A Business Activity Statement (BAS) refers to a form that has to be submitted to the Australian Taxation Office (ATO) to denote a business's tax obligations. The time and effort required to prepare a Business Activity Statement depends on how well you maintain the records containing the necessary information.

Why Hire an Accountant to Prepare BAS?

Tax reporting requirements will vary depending on the type of business. This makes the process of preparing and lodging a Business Activity Statement quite daunting. Qualified Mandurah accountants can certainly help you out. They have sufficient experience and expertise in properly preparing a Business Activity Statement for various companies. The experts will ensure that crucial data is not missed, and lodge the statement well ahead of the deadline.

How do Accountants Help while Lodging BAS?

As Mandurah accountants have a rich experience in preparing Business Activity Statements, you would have sufficient time in lodging the same and making the payment to the Australian Taxation Office. The accountant will also pinpoint specific deductions that could be claimed as business expenses, in order to obtain higher returns for you.

Hire Only a Licenced BAS Accountant:

There are several options for you to lodge your Business Activity Statement. You can either lodge BAS online yourself, or hire an agency to do so. However, this could be risky. An agent or service that is not licensed or registered would potentially give you inaccurate or misleading advice in the preparation and lodging of BAS, which eventually leads to penalties and losses.

Always make sure that you hire licensed and certified accounting firms in Mandurah that provides quality advice on GST, and swift assistance in preparing and lodging BAS for your company. The professionals are qualified in offering the service to you.

-Incorrect information on a BAS statement could result in fines. Professional BAS accountants will ensure the information furnished is accurate.

-BAS accountants will make sure that your business complies with the regulations of the ATO.

-Every minute detail of your business income and expenses will be carefully analysed by the accountants, and they will accordingly guide you to help your business attain its objectives.

Hiring certified tax accountants in Mandurah is highly recommended to prepare and lodge your BAS statement to the Australian Taxation Office in a timely fashion. Such professionals can make the entire process stress-free and manageable, without doubt.

The author is working in one of the recognised accounting firms in Mandurah and has an experience of over 3 years in preparing and lodging BAS statements for various companies. He often writes about business finance in various online publications. For more details, visit https://www.wealthvisory.com.au

Article source: https://article-realm.com/article/Business/5517-Why-Hire-Accountants-to-Prepare-and-Submit-Your-Business-Activity-Statement.html


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