Whiz Consulting Announces The Launch Of BAS Tax Agent Services to Enhance Business Growth

Gordon, United States, 2022-Jun-07 — /EPR Network/ — When operating a business in Australia, you must keep your accounts up-to-date since it is your responsibility to submit the Business Activity Statements (BAS) to the Australian Taxation Office (ATO). This report allows business owners to have a continuous picture of their business’s financial condition and to report and pay various types of taxes, such as GST, PAYG withholding tax and withholding tax, FTC and FBT, among others. As a result of these concerns, Whiz Consulting, one of the leading providers of outsourcing accounting and bookkeeping services, has announced that it has launched BAS tax agent services to enhance business growth and reduce bookkeeping stress.  

  

Even the most amateur business owners cannot deny that even one error in the report can have deadly consequences. Whiz Consulting has taken a nice step to address these errors by letting business owners utilize a professional tax agent service that possesses the right qualifications and registrations in accounts management for the job – a registered BAS agent. 

  

What is a Business Activity Statement (BAS)? 

  

To take full advantage of Whiz Consulting’s newly launched BAS tax agent services, it is important that you first understand what BAS is all about. Every business in Australia must submit a Business Activity Statement (BAS) to the Australian Taxation Office (ATO). This document summarizes all the taxes paid or required to be paid over a specified period. The ATO utilizes the BAS for tax assessment purposes. Several factors determine the type, amount, and type of tax to be paid, including the company’s size, employee count, benefits offered, the type of goods or services, and the location of the business. 

  

Benefits of Whiz Consulting Registered BAS Tax Agent Brings to Your Business 

  

Comply with the law  

There are different compliance obligations for different kinds of businesses. For example, you must meet the requirements of the APRA, ASIC, RBA, and the ACCC. Failure to comply with these obligations may result in a fine from the ATO. By ensuring that your compliance is managed promptly, the newly launched Whiz Consulting’s registered BAS tax agent can assist you in staying out of hot water and preventing future fines and penalties. 

  

Minimize or Eliminate Errors 

When you do it yourself, you run the risk of making mistakes and expensive mistakes, especially if account management is not your area of expertise. The BAS agents at Whiz Consulting have years of experience and a strong understanding of business financial systems, so you can rest assured that your data is accurate every time. Besides offering guidance in the lodging process, they also teach you how to read your financial statements appropriately. 

  

Save Time and Energy 

Having qualified and experienced professionals like the Whiz Consulting tax agent team can handle your bookkeeping and financial transactions enabling you to spend more time on core activities, such as marketing and customer service and avoid the stress of managing them yourself. Moreover, you do not need to hire a full-time employee or a full-time bookkeeping team, which will reduce your costs. 

  

Monitor Your Cash Flow 

In addition to monitoring your cash flow and ensuring that you have adequate cash for your business activities, their BAS tax agent aids in ensuring you successfully meet your tax and financial obligations. They can keep track of all your transactions, allowing business owners to make better financial decisions as they are always aware of how much money they have at their disposal. 

  

Streamline bookkeeping for your accountants 

Investing in a registered BAS agent can also simplify the life of your accountant or bookkeeper, who is already occupied with the preparation of financial statements, balance sheets, audits, etc. As experts handle the BAS, accountants can manage their work more efficiently. This is critical for startups that usually hire inexperienced accountants or recent graduates during business development.