What is BAS?
A Business Activity Statement is a form used to report and pay certain business tax obligations. Depending on your registrations, it can include GST, PAYG…
Read the answer ↗Questions & answers
Answers you can put to work.
Browse practical answers about bookkeeping, BAS, tax, payroll and running a small business.
51 questions
Who needs to lodge BAS?
Businesses with relevant tax registrations may have activity statement obligations. GST registration commonly creates a BAS reporting requirement, while PAYG…
Read the answer ↗How often should BAS be lodged?
Many businesses lodge BAS quarterly, while others report monthly or under another applicable arrangement. Your reporting cycle depends on ATO requirements and…
Read the answer ↗Can a bookkeeper lodge BAS in Australia?
Generally, someone providing BAS services for a fee must be registered with the Tax Practitioners Board as a BAS agent or tax agent, unless an exemption applies. A…
Read the answer ↗When should I register for GST?
Most businesses must register when their GST turnover reaches $75,000 or more. A different threshold applies to not-for-profit organisations, and some activities…
Read the answer ↗Is the GST threshold based on profit or sales?
The GST registration threshold is based on GST turnover, not net profit. A business can have low profit and still need to register. Some sales are excluded from the…
Read the answer ↗How do I calculate GST in Australia?
For a fully taxable sale at the standard 10% rate, add GST by multiplying the GST-exclusive amount by 1.1. To find the GST included in a GST-inclusive price, divide…
Read the answer ↗Do I lodge BAS if I had no income?
You may still need to lodge a nil BAS when there is no activity. Check the statement issued by the ATO and the obligations attached to your registrations. No income…
Read the answer ↗What should I do if my BAS is overdue?
Identify the outstanding periods, gather the records and contact your BAS or tax agent promptly. If payment is also a problem, treat that as a separate issue to…
Read the answer ↗Is BAS the same as a tax return?
No. BAS reports particular business tax obligations during the year, while an income tax return reports income, deductions and other information for the income…
Read the answer ↗What is the difference between a bookkeeper and an accountant?
Bookkeeping usually focuses on recording and reconciling everyday transactions. Accounting can include financial statements, analysis and broader business…
Read the answer ↗How much does a bookkeeper cost?
The cost depends on transaction volumes, record quality, software and the services included. Affordable Bookkeeper advertises routine bookkeeping from $45 per week,…
Read the answer ↗How often should bookkeeping be completed?
The best frequency depends on how your business operates and how quickly you need reliable information. Weekly, fortnightly and monthly routines are common. Waiting…
Read the answer ↗What is a bank reconciliation?
Bank reconciliation checks that transactions and the closing balance in your accounting records agree with the bank statement. It helps identify missing entries,…
Read the answer ↗Should I separate business and personal bank accounts?
Separating business and personal transactions usually makes bookkeeping easier and reduces the time spent explaining payments. Requirements differ by business…
Read the answer ↗How should I organise business receipts?
Use a consistent system that keeps each receipt readable and connected to the transaction. Digital folders or an accounting document tool can work well when…
Read the answer ↗What happens if I lose a receipt?
Try to obtain a replacement from the supplier and retain other relevant evidence. A bank statement may show that a payment occurred, but may not establish what was…
Read the answer ↗How long should I keep business records?
Many tax records need to be kept for at least five years, but the starting point and required period depend on the record and relevant rules. Some records must be…
Read the answer ↗Can I send receipts through WhatsApp?
WhatsApp can be part of an agreed receipt collection workflow. Contact us first so we can confirm the process, what information to include and where the final…
Read the answer ↗Can I change bookkeepers during the year?
Yes. A planned handover can take place during the year. Agree a cutoff date and identify which tasks and lodgements the previous provider has completed before the…
Read the answer ↗Should I use Xero, MYOB or QuickBooks?
Choose software around your business workflow, reporting needs and the people who use it. We support Xero, MYOB and QuickBooks, and do not assume that every…
Read the answer ↗Does a bank feed do my bookkeeping for me?
No. A bank feed imports transactions, but the entries still need to be matched, checked and classified. It may not contain invoices, accruals, unpaid bills or all…
Read the answer ↗What do I need to move to Xero?
A successful move needs an agreed conversion date, reliable opening balances and a plan for outstanding invoices, bills, payroll and historical records. The…
Read the answer ↗How should I give my bookkeeper access to my software?
Use the software’s user invitation and permission features where available. Give each person their own account and access suitable for the work they are engaged to…
Read the answer ↗Do I need an ABN?
ABN entitlement depends on whether you are carrying on, or taking steps to start, an enterprise and your circumstances. An ABN is a business identifier; it does not…
Read the answer ↗Does it cost money to register an ABN?
Applying directly for an ABN through the Australian Business Register is free. A professional may charge a service fee to assist with the application. Business…
Read the answer ↗Is an ABN the same as a business name?
No. An ABN identifies an entity for business dealings, while a registered business name identifies the name under which a business operates. Company registration…
Read the answer ↗Should I be a sole trader or a company?
The appropriate structure depends on your ownership, risks, income, plans and willingness to manage ongoing obligations. A company is a separate legal entity and…
Read the answer ↗What records should I set up when starting a business?
Start with a record system for sales, expenses, banking, assets and any staff. Keep registration details, agreements and opening balances together so the accounting…
Read the answer ↗What is a company annual review?
An annual review is part of the ongoing administration of an Australian company. The company needs to review the statement and meet the applicable requirements,…
Read the answer ↗What is Single Touch Payroll?
Single Touch Payroll is a way employers report payroll information to the ATO through enabled software. It connects payroll processing with reporting of relevant…
Read the answer ↗Can I outsource payroll but keep payment approval?
Yes. Payroll processing and payment approval can be separated. An agreed workflow can let us prepare the pay run while your authorised person reviews and approves…
Read the answer ↗Do casual employees receive overtime?
Casual employees may be entitled to overtime under the applicable award, agreement or employment arrangements. The trigger and rate are not the same for every…
Read the answer ↗What information does a payroll provider need?
A payroll provider needs employee setup details, the applicable employment terms, approved hours or salary information, leave and changes affecting the pay run.…
Read the answer ↗What superannuation rate should employers use?
The current super guarantee rate is 12%, subject to employee eligibility and the applicable earnings base. Under Payday Super, the calculation uses qualifying…
Read the answer ↗Can contractors be entitled to super?
Some contractors can be entitled to super even when they have an ABN and issue invoices. The answer depends on the arrangement and the applicable super rules. An…
Read the answer ↗What can nurses claim on tax?
A nurse may be able to claim eligible work-related expenses they paid themselves and were not reimbursed for. The expense must meet the relevant rules and be…
Read the answer ↗Can nurses claim laundry expenses?
Laundry expenses may be deductible when they relate to eligible work clothing, such as qualifying protective or occupation-specific clothing or an eligible uniform.…
Read the answer ↗Can medical receptionists claim uniforms?
Eligible uniform expenses may be deductible, but ordinary clothing is generally not deductible just because an employer requires a particular colour or style. The…
Read the answer ↗Can I claim my mobile phone for work?
You may be able to claim the work-related portion of phone expenses you pay yourself, where the relevant deduction rules are met. Private use and employer…
Read the answer ↗Can I claim working-from-home expenses?
A deduction may be available for eligible additional expenses incurred while working from home. The calculation method and records required depend on the applicable…
Read the answer ↗Can healthcare professionals claim CPD expenses?
Professional development costs may be deductible when they have a sufficient connection with current income-earning activities and meet the relevant rules. Training…
Read the answer ↗Can I claim professional registration fees?
Professional registration or membership costs may be deductible where they relate to current income-earning work and meet the relevant rules. Keep the invoice and…
Read the answer ↗Is a GP a contractor or employee?
The answer depends on the arrangement and the relevant legal test. A contract label, ABN or invoice is not enough on its own to decide every employment, tax, super…
Read the answer ↗Are all healthcare services GST-free?
No. Some healthcare services are GST-free when the conditions are met, but the treatment depends on the service and the circumstances. A healthcare business can…
Read the answer ↗Are NDIS services always GST-free?
Do not assume that every service paid with NDIS funding is automatically GST-free. The supply must satisfy the applicable conditions. Review the service, agreement…
Read the answer ↗How do I prepare a tax return with multiple jobs?
Gather income statements and relevant records for all jobs, along with evidence of eligible expenses. Your tax return considers your overall position for the income…
Read the answer ↗Can I lodge tax returns from previous years?
Yes, outstanding income tax returns can be prepared for previous years. First establish which years require lodgement and collect the information relevant to each…
Read the answer ↗How much does a tax return cost?
The fee depends on the type of return, the income and transactions involved, and the quality of records. Ask for a quote based on your circumstances rather than…
Read the answer ↗Why can my business make a profit but have little cash?
Profit and cash flow measure different things. Money can be tied up in unpaid customer invoices, stock, equipment or loan repayments even when a profit and loss…
Read the answer ↗Which financial reports should a small business review?
A profit and loss statement, balance sheet and cash flow information provide a useful starting point. Many businesses also need aged receivables, aged payables and…
Read the answer ↗No matching questions. Try another word, choose all topics, or ask our team.
Your books, taken care of.
Tell us what you need. We’ll put together a clear, practical quote.
