BAS & GST
Cross, Sinclair & Novotny prepares or assists clients to lodge the required Business Activity Statements (BAS) for their business. The BAS accounts for GST on business income and expenses and is required to be lodged quarterly or annually with the ATO. GST (Goods & Services Tax) is a tax on most goods and services subject to certain exclusions. This means that most businesses will be required to pay GST on their sales income in addition to being able to claim back GST on eligible expenses.