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Preparing for tax time has never been easier
QuickBooks Online is the simple way to manage all your invoices, bills, receipts and payments all in one place. Track your GST and prepare your BAS for you to lodge with the ATO (Australian Taxation Ofﬁce).
How it Works in QuickBooks Online
Activate your GST
You simply turn on GST tracking and QuickBooks Online does the rest. It automatically tracks and calculates GST, so when you’re ready to lodge your BAS it’s quick and easy.
Itemise and track your GST liabilities
Every time you create a new invoice, QuickBooks Online allows you to decide if GST should be included or not. Keeping track of your GST really is that easy.
View and reconcile your BAS before you lodge with the ATO
QuickBooks Online automatically creates a summary of your BAS for you to review. A quick check and you're ready to lodge.
Automatically tracks changes and exceptions to your GST
QuickBooks Online advises you every time you make a change to a previous transaction, and reflects those changes in your next BAS summary. Everything is always up-to-date and accurate.
Go back in time and view your history
QuickBooks Online keeps a detailed record of every BAS and whether it's been lodged and / or paid.
Frequently Asked Questions
What is GST?
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.
What is the ATO?
The ATO or Australian Taxation Ofﬁce is an Australian government statutory organisation and the primary revenue collection entity for the government in Australia. They are responsible for the administration of the Australian federal taxation system, superannuation legislation, and other related matters.
What is BAS?
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 installments, 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.
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