Organise GST and prepare activity statements
with QuickBooks

GST or Goods and Services Tax is a broad-based tax of 10% on most goods, products, services, and other items that are sold and/or consumed in Australia.

After a business or organisation registers for GST, they will generally include GST in all pricing for their goods and services. In addition, they can also claim credits for the GST that is included in the prices of all goods and services that are purchased for their business.

If your business ‘GST turnover’ is more than $75,000 per year or if you are a taxi driver, you will have to collect and then pay a 10% Goods and Service Tax (GST).

Click here to find out more about ‘GST turnover’.

BAS or Business Activity Statement is a tax reporting requirement for businesses that is issued by the ATO (Australian Taxation Office) on either a monthly or quarterly basis.

The BAS is used for reporting and paying GST, PAYG instalments, PAYG withholding tax and other tax obligations.

When an ABN (Australian Business Number) and GST is registered for your business, the ATO will automatically provide a BAS when it’s time for lodgment.

It’s important to remember that ALL businesses registered for GST need to lodge a BAS by the due date.

With all your data in one place, QuickBooks Online makes it easy for you to prepare a business activity statement. Simply ask your QuickBooks to ‘prepare BAS’ in our tax centre and we’ll do the number crunching for you.

Once we’re finished, your activity statement will be ‘marked as lodged’ and ready for you to share directly with the ATO.