{"id":2053,"date":"2019-12-01T03:23:00","date_gmt":"2019-11-30T16:23:00","guid":{"rendered":"https:\/\/saige.com.au\/?p=2053"},"modified":"2020-01-03T15:04:12","modified_gmt":"2020-01-03T04:04:12","slug":"be-the-boss-of-your-bas","status":"publish","type":"post","link":"https:\/\/saige.com.au\/business\/taxation\/be-the-boss-of-your-bas\/","title":{"rendered":"Become the Boss of your BAS"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"2053\" class=\"elementor elementor-2053\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8ce7e39 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8ce7e39\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9e0a9a9\" data-id=\"9e0a9a9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b723394 elementor-widget elementor-widget-text-editor\" data-id=\"b723394\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>If you are a business registered for GST in Australia, you will be very familiar with the often dreaded Business Activity Statement (BAS). Whether you see this as a headache or helpful to your business, it is a non-negotiable in terms of taxation compliance. To avoid being bossed around by your BAS and take full control requires one thing, planning.<\/strong><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2f8c73a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2f8c73a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9d3d49f\" data-id=\"9d3d49f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b8aa7c1 elementor-widget elementor-widget-text-editor\" data-id=\"b8aa7c1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>For new business owners, the BAS is completed monthly, quarterly or annually for GST registered businesses. It is the way businesses represent their tax obligations to the ATO. These obligations include G<span style=\"font-size: 17px;\">oods &amp; Services Tax (GST), Pay As You Go Withholding (PAYGW), Pay As You Go Instalments (PAYGI), Fringe Benefits Tax (FBT), Wine Equalisation Tax (WET) and Luxury Car Tax (LCT). What a mouthful!<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-aefbe3b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"aefbe3b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-13c082e\" data-id=\"13c082e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-53e1e23 elementor-widget elementor-widget-heading\" data-id=\"53e1e23\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Simplify your BAS approach<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65b669b elementor-widget elementor-widget-text-editor\" data-id=\"65b669b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>All these terms may seem overly complicated and<span style=\"font-size: 17px; font-style: normal; font-weight: 400;\">\u00a0lot of advice is dished out relating to BAS lodgement. T<\/span><span style=\"font-size: 17px;\">he BAS process however simply boils down to being prepared and knowing your business. To assist navigating the BAS and also managing your business better, consider these three key guidelines:<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-fb410b0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fb410b0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-19d2b16\" data-id=\"19d2b16\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ce7e0e5 elementor-widget elementor-widget-heading\" data-id=\"ce7e0e5\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">1. Maintain Awesome Records<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-eb5f940 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"eb5f940\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-82c1849\" data-id=\"82c1849\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f45ad13 elementor-widget elementor-widget-text-editor\" data-id=\"f45ad13\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Record keeping is almost an essential business practice. Every sale, expense, wage or any transaction related to your business should be kept. These will all need to be accounted for come BAS time. Automating this record keeping will reduce time and also errors of manual record keeping. <a href=\"https:\/\/saige.com.au\/business\/accounting\/cloud-accounting-software\/\">Accounting software<\/a>, if setup correctly, can remove a lot of manual effort. Also, categorising your transactions in line with the BAS categories makes it easier to translate your books into your BAS.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ba4a952 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ba4a952\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7faa2e3\" data-id=\"7faa2e3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-da7e3a3 elementor-widget elementor-widget-heading\" data-id=\"da7e3a3\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">2. Meet ATO Deadlines<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8462f8f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8462f8f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ce1e66d\" data-id=\"ce1e66d\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f1910d7 elementor-widget elementor-widget-text-editor\" data-id=\"f1910d7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Running a business is hectic. There are many demands on your time and meeting deadlines for customers, suppliers and debtors can be a juggling act. ATO deadlines are one area where you don&#8217;t want to drop the ball. It can be difficult to take your focus out of business operations so having systems in place so that BAS reporting is automated and, if any lodgement delays are expected, make sure these are communicated to the ATO properly, and in advance.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2938c56 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2938c56\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-268828c\" data-id=\"268828c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bdfe796 elementor-widget elementor-widget-heading\" data-id=\"bdfe796\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">3. Budget for Tax Payments<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bd5ef54 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bd5ef54\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-afd1776\" data-id=\"afd1776\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e33679e elementor-widget elementor-widget-text-editor\" data-id=\"e33679e\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>After all is said and done, your BAS will determine how much tax your business will need to pay. With <a href=\"https:\/\/saige.com.au\/business\/accounting\/why-forecasting-cash-flow-is-good-for-business\/\">cash flow the lifeblood of any business<\/a>, budgeting for your tax liability is important, especially if you are paying quarterly or yearly, you don\u2019t want this to come as a surprise. Many businesses run a separate GST bank account to syphon off the estimated tax amount so it is sitting ready to be drawn upon at the right time, and importantly, can\u2019t be accessed for any other so-called emergencies.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-63abf95 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"63abf95\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-326b98f\" data-id=\"326b98f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-190ec89 elementor-widget elementor-widget-text-editor\" data-id=\"190ec89\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Being the boss of your BAS ultimately comes down to prior planning. By planning to keep awesome records, meet ATO deadlines and to keep tax funds\u00a0<span style=\"font-size: 17px; font-style: normal; font-weight: 400;\">\u00a0<\/span><span style=\"font-size: 17px; font-style: normal; font-weight: 400;\">isolated\u00a0<\/span><span style=\"font-size: 17px;\">you will be well on the way to sailing through BAS time easily. That\u2019s not to say you might not need a hand setting everything up to begin with.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-03c90e6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"03c90e6\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-df43cd1\" data-id=\"df43cd1\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-77c9bdc elementor-widget elementor-widget-text-editor\" data-id=\"77c9bdc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><strong>Saige Accountants<\/strong> are experts at <strong><a href=\"https:\/\/saige.com.au\/business\/business-taxation\/business-activity-statements-bas\/\">BAS planning<\/a><\/strong>. We can help setup your <strong><a href=\"https:\/\/saige.com.au\/business\/accounting\/cloud-accounting-software\/\">accounting software<\/a><\/strong> to keep meticulous and automated <strong><a href=\"https:\/\/saige.com.au\/business\/accounting\/financial-reporting\/\">record keeping<\/a><\/strong>. As Registered Tax Agents, we can ensure the BAS is completed correctly and on time to avoid penalties. Talk to us for advice so you become the boss of your BAS.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6580918 elementor-section-stretched elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"6580918\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;,&quot;shape_divider_top&quot;:&quot;triangle-asymmetrical&quot;}\">\n\t\t\t\t\t<div class=\"elementor-shape elementor-shape-top\" data-negative=\"false\">\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 1000 100\" preserveAspectRatio=\"none\">\n\t<path class=\"elementor-shape-fill\" d=\"M738,99l262-93V0H0v5.6L738,99z\"\/>\n<\/svg>\t\t<\/div>\n\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3b7d561a\" data-id=\"3b7d561a\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4c0b3cc7 elementor-widget elementor-widget-heading\" data-id=\"4c0b3cc7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Find out how we can help you master your BAS\n<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-1a5c897 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"1a5c897\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-4bee3121\" data-id=\"4bee3121\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2816aa7d elementor-icon-list--layout-inline elementor-align-right elementor-tablet-align-center elementor-mobile-align-left elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"2816aa7d\" data-element_type=\"widget\" id=\"phone-call-blog\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"tel:0243657222\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<i class=\"fa fa-phone\" aria-hidden=\"true\"><\/i>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Call us on <strong>(02) 4365 7222<\/strong><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-60cc9937\" data-id=\"60cc9937\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7acd64f elementor-icon-list--layout-inline elementor-align-left elementor-tablet-align-center elementor-mobile-align-left elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"7acd64f\" data-element_type=\"widget\" id=\"email-blog\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"elementor-icon-list-items elementor-inline-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t<a href=\"mailto:mail@saige.com.au?subject=Website%20enquiry&#038;body=Email%20sent%20from%20Saige%20website\" target=\"_blank\">\n\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"far fa-envelope\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Email us at <strong>mail@saige.com.au<\/strong><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>If you are a business registered for GST in Australia, you will be very familiar with the often dreaded Business Activity Statement (BAS). 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