Understanding GST Registration & BAS

Rohan owns a bakery. He is excited that his business has made $60,000 in sales since he opened.

Rohan is worried about GST and BAS. He knows that he needs to start charging GST soon. But he doesn’t know much about the GST rules in Australia. He wonders if he will need to get an accountant to do BAS for him?

Raise Accounting is able to guide Rohan.

We develop a plan for training to:

• Teach him about GST and BAS via simple, easy to understand slides

• Help him register his business for GST online

• Walk him through BAS setup in the Xero software he uses

• Show him how to lodge his BAS return each quarter through Xero, including reconciliations to make sure he lodges accurate figures

After training Rohan feels happy and confident that he can manage his GST responsibilities and BAS lodgement himself.

He got a quote from an accountant for $250 a quarter to lodge BAS for him. He is excited that he will be saving $1,000 a year by doing the BAS himself.

NB - we recommended Rohan get advice from a tax accountant on the GST status of the products he sells. Raise Accounting is able to guide Rohan.