How to fill out a BAS
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- Опубліковано 1 лип 2024
- A basic guide for first year accounting students on how to fill out a BAS (Business Activity Statement)
www.tetracarbon.com/
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Happy Studies!
-Phillip
Thank you! This is the only information I found to be helpful and very easy to understand about calculating and reporting GST to the government 😃
Great video. My BAS course brought me here. Thank you kindly for the video.
The drawings there just made me smile as I was listening to you. Good one! :)
Very easy explained. thank you ! Helped alot
Its so easy, finally I will use my accounting skills tomorrow InshAllah. Thank you
Thank you. Well explained and had a giggle too. Thanks very much. Hope to see more
And how do we know what are EXPORTS and GST free sales are? To work out the amounts?
This is Awesome! !
Thank you so much for the deep explanation that was really helpful 👍
Glad it was helpful!
Thank you :)
Nice music 👍🔥🔥
hi just wanted to know where would the wages paid to an employee come under if he is not registered for gst. Thanks very much.
VERY GOOD
Thanks for the explanation, but I have noticed the mistakenly filled out 1B/ G19 GST on Purchases - G11 should be equal 44,110, G12 - 77,110, G17 - 77,000, GST on Purchases = 7,000. See the ATO website @All amounts reported at G15 on your worksheet should also have been reported at G10 or G11.
I noticed that! I am with you. The logic behind this table is to help you go throgh the whole amount of numbers minus non gst relevent numbers to work out the GST amont payable/refundable.
I consider that the Phillip's calculation is right, because the private purchase doesn't include GST and then the result of G17=G12-G16 and from that you get the total GST from purchases.
Hi Phillip, Would Bought lunch (private) be included in Various Expenses? I still do not understand why it can be deducted if it is outside of Various Expenses.
Legally not deductible. People occasionally do it anyway.
Murder is also illegal. People occasionally do it anyway.
Hey really amazing video! Need some help.
We are a firm of chartered accountants based in India and we have a few clients in Australia for whom we need to file BAS and annual return. Now since we don’t have agent code , Can we actually file these statements by acting as Company executives and how?
No
Hi Phillip, first and foremost, thank you for sharing this information it is really helpful esp with someone like me who just started a business and has zero idea on what to do. For example, when I first filed my BAS I made a mistake and only did one month (November) of my total sales etc, now would I still be able to fix that? I called the ATO and asked for help and no one was able to help me. It would be much appreciated if you could help me understand if there is still a way to fix it please. Thank you so so much in advance.
I’d like to help here but there are big penalties for giving unlicensed tax advice openly over the internet. I don’t know your circumstances and can’t give you advice.
A screenshot to the TPB or ASIC can get me in trouble I don’t need.
That being said I’m happy to refer you to people who can help you directly.
Reach out to me via private DM on LinkedIn Facebook email or another method and I can tell you who to talk to or I can direct you further.
@Tetracarbon (Phillip Wong) totally understandable. Thank you so much for replying to my message though. I will shoot you a DM then. Thank you so much again
Just saw your video, do you have any update for 2024?
Thanks that was very helpful. Btw they still send out the BAS by mail in paper form
alwaystmoza they do. But they are super reluctant to do so. The ATO Is hot to trot on getting everyone on to purely online system.
I got one send and because I closed my my abn and gst cancelled they still want me to do one for one last month can I not return it or do the form
is the G15 to do with the FBT?
Hi , I would like to know where can i find this form, i really need it
You can download a sample form from the ATO. If you have to do a BAS, the form is now electronic and you can do it from my.gov.
@@Tetracarbon Explained v well.... do you have any videos/ link for accounting software for Australia... xero... Myobe.. And how practical accounting is done in this software... Thanks.
No. But I suppose I could make some. :)
@@Tetracarbon oh wow that's also great... Waiting for the same...
Thanks
Thanks mate, time to get on top of 3 years worth of BAS. lol. Driving uber was the worst decision I ever made. Don't do it.
To think I paid $230 a quarter for something so simple!
How much are paying in this current climate for each quarter ?