Sydney-Bookkeeping.Com.Au

Could 80% of BAS forms really be completed incorrectly? Apparently this is the figure that the Australian Taxation Office estimate when reviewing Business Activity Statements.

Are You Paying More GST than You Should?

When you consider that many small business owners around Revesby, Panania, Padstow, Picnic Point, and suburbs to Liverpool and Bankstown believe that bookkeeping is an expense, rather than an investment, it is hardly surprising that so many people who have no idea what they are doing complete Business Activity Statements.

Many clients approach our professional contract bookkeeping service because they realise that a mobile bookkeeper can save them heart-ache and stress in getting their paperwork upto date.

Speaking to a client in Bankstown last week, it transpired that he had absolutely no idea what was involved in running a business from the financial aspects. As long as there was money in his pocket at the end of each week to pay the bills, he was happy.

When the first BAS form arrived on his doorstep he just figured he’d guess what figures went where and hope that it would all sort it self out at the end of the financial year

The crazy thing is, that by having to report quarterly Business Activity Statements, small businesses are being encouraged to record their business activities every three months.

If you leave it all for your accountant at the end of the financial year, then guess what? It’s all too late.

If you’re now faced with a large tax liability after the end of the year, there’s nothing you can do about it. Whereas if you are aware of the situation beforehand, then there maybe avenues that you can follow to reduce your tax liability. We are not registered tax agents and cannot give guidance in such matters, so you need to speak to your accountant.

We’ll look at your bookkeeping and assess your requirements. It’s not uncommon for us to find some major savings for our clients. Contact us today for more information.