GST
Goods and services tax which are added to most prices in Australia which as a business you might be required to register for.
More info on Xero website.
Minimal bookkeeping
Average only 3 to 8 unreconciled transactions for us to fix and recommended number of accounts (and subaccounts). Any more than that a bookkeeping fee might be charged.
PAYG Withholding
Withholding amounts may be required for your workers, other businesses and other payees, and subsequently sent to ATO.
At the end of each financial year you must lodge a PAYG withholding annual report for all payments not reported and finalised through Single Touch Payroll (STP).
PAYG Tax Instalments
Pay as you go (PAYG) instalments are regular prepayments of the expected tax on your business and investment income.
IAS
Instalment Activity Statement
Instead of a BAS, you may be eligible to submit an IAS.
Eg. You are not registered for GST but need to report PAYG Instalments or you submit BAS quarterly but also need to pay monthly PAYG withholding tax
Client Responsibility
Clients are solely responsible for the accuracy, completeness, and legality of the information provided for BAS services. While Emzy Accounts may offer guidance and tools to facilitate bookkeeping processes, ultimate responsibility lies with the client to ensure the integrity of their financial data.
No Liability for Losses
To the fullest extent permitted by law, Emzy Accounts disclaims any liability for any loss or damage arising directly or indirectly from clients' bookkeeping activities. This includes but is not limited to financial losses, data inaccuracies, or legal consequences resulting from the use of our services or information.
Limited Scope of Services
Emzy Accounts provides general information and tools for bookkeeping, but we do not undertake the actual bookkeeping responsibilities for clients. Clients are advised to engage in the bookkeeping process using our provided resources at their own discretion.