MWL FINANCIAL GROUP
SECTION – PROPERTY EXPERT
SUBJECT – Do I need to do a BAS
Hi I'm Jeff Banks, Business Advisor with over 30 years experience at MWL Financial Group specialising in property transactions.
The requirement to do a BAS comes from being registered for GST. Registration for GST centres around the concept of an enterprise.
If you need to be registered you can potentially do a BAS annually if the size of your business warrants. You may need to pay an instalment of GST each quarter in the mean time.
You can also register to prepare BAS quarterly or monthly depending on your registration. Some like the monthly regime where they are getting a refund due to inputs to assist with cash flow whilst others prefer the quarterly cycle.
Remember it’s the lodgement of the document not the payment of the liability that will give rise to fines.
For more information contact us at firstname.lastname@example.org and either me, Jeff Banks or one of our experts will be more than happy to help.