TAX SOFTWARE: LODGEMENT AND PREPARATION FOR SMALL BUSINESSES

Goods and Services Tax (GST) is a tax on goods and services provided or sold by an individual or small business entity.

Taxes are collected by the individual when goods are sold, and taxes are paid when they purchase goods and services from other individuals and businesses.

GST in Australia is generally 10% and applies to almost all goods and services sold or traded in Australia. Learn more about the GST.

The Business Activity Statement (BAS) is used for reporting and paying goods and services tax (GST), Pay As You Go (PAYG) Installments, PAYG withholding tax and other tax obligations to the ATO.

It is usually filed monthly or quarterly, and for most QuickBooks users, it will be quarterly.

If you are registered for GST, the ATO will automatically send you a BAS when it is time to lodge, and all businesses registered for GST are required to lodge BAS by the due date, even if they have nothing to claim.

Yes! Quickbooks Online can help you to file your sales tax returns and record your tax payments, all within the same platform. If you are a small business owner, check our GST and BAS page to learn how QuickBooks can help you when the end of financial year comes. And if you are an accountant, see how QuickBooks can support in preparing taxes for your clients. 

Tax compliance refers to filling all required tax returns at the proper time and that returns accurately report tax liability in accordance with tax law applicable at the time the return is filed. With QuickBooks tax you can ensure you stay compliant. Llet us take care of your tax compliance and obligations so you can focus on other areas of your business.

The amount of tax you pay in Australia depends on different factors such as your residential status and your income value. For example, in Australia, if your income is less than $18,200 you may not have to pay any tax. You can check our pagees on income tax or tax tables, to learn more about how much tax you would pay in Australia.

You can claim the cost of commercial off-the shelf software as a deduction in the year of purchase or if the software has an effective life of one year or less or you are eligible for claiming an immediate deduction using a tax depreciation incentive. 

With QuickBooks Tax you can streamline your tax and BAS workflows. With automated data pre-filling, broad system integration, electronic client approvals and secure, anywhere, anytime access, you will make sure you streamlinine your tax preparation. Make sure you check the Prep for Taxes functionality in QuickBooks Online Accountant. 

Quickbooks Tax Software can help you to file your sales tax returns and record your tax payments, all within the same platform. If you are a small business owner, check our GST and BAS page to learn how QuickBooks can help you when the end of the financial year comes. And if you are an accountant, see how QuickBooks can support you in preparing taxes for your clients.

With QuickBooks, you have access to a comprehensive set of tools and features that empowers you to run your small business independently. Rest assured, we are also here to provide reliable support whenever you need assistance.