The BAS Summary report (Like the Australian Taxation Office Calculation Sheet) is designed to help you fill out your Business Activity Statement, commonly known as the BAS. It is very similar to the Calculation Sheet that the Australian Taxation Office provides you when you receive your BAS form in the mail.

There are many versions of the BAS and IAS forms depending on you business or investment situation (in excess of twenty versions). Because of this, Saasu can’t display a BAS or IAS form that looks exactly like yours. Saasu does the calculations for you (based on what you have entered into Saasu) so that you can fill in the boxes from the Saasu BAS Summary report.

The BAS Summary report calculates the GST, PAYG and PAYG instalment T1 numbers based on the transactions you have entered into Saasu. Some items in the BAS or IAS are not supported by the Saasu BAS Summary report (e.g. FBT Payable). It is essential that you check the information you have entered for accuracy and seek advice from your qualified Taxation Accountant when preparing taxation remittances such as the Business Activity Statement, the Income Activity Statement or Income Tax Returns.

The report has four main sections:

• GST amounts you owe the Australian Taxation Office from sales
• GST amounts the Australian Taxation Office owes you from purchases
• PAYG Tax Withheld
• PAYG Instalment

The amounts you may need to enter into the BAS form are in highlighted type. The Australian Taxation Office asks that you use a black pen to fill out the form and not to write zero’s (in most circumstances). The far right column of the report tells you the where the amounts go on the BAS form.

Always check with your accountant with regards to how you fill out your form(s) for your specific circumstances. The calculation report we provide (”BAS Summary”) is general in nature and will not meet every specific circumstance.

What’s NOT in this report?

Custom tax code information does not display in Zone specific tax reports such as the BAS Summary report. It relies purely on in-built tax codes.