Your Trusted BAS and IAS Partner in Melbourne
Our Achievements & Recognition
We’re proud that over the years we’ve built a strong trust among our clients. Here’s a quick look at what sets Pennywise Accountants apart:
- Among Top 5 Accounting Firms in Melbourne— Recognised for excellence in financial services.
- Awarded Best Tax Advisory Firm 2024— A prestigious award bestowed upon us
- 1000+ Satisfied Clients Nationwide— Manifests our hard work and quality service.
Certified by CPA Australia— Compliant with regulations and Melbourne professional standards.
What is BAS?
BAS stands for Business Activity Statement.
- It is a form that most businesses have to fill out.
- It tells the Australian Tax Office (ATO) how much GST (Goods and Services Tax) the business collected and paid.
- It also includes other taxes like PAYG withholding, PAYG instalments, and more.
- Businesses usually lodge BAS every 3 months, but some may do it monthly.
What is IAS?
IAS stands for Instalment Activity Statement.
- It is used by people or businesses who do not need to lodge a BAS, but still need to report and pay for things like:
- PAYG withholding (tax taken from employee wages)
- PAYG instalments (pre-paid income tax)
- Usually, this is for sole traders, small businesses, or individuals.
Why Choose Pennywise Accountants?
Here’s why businesses across Melbourne choose Pennywise Accountants.
Expertise Across Australia
With over 10 years of experience serving over 1000 clients, we offer top-notch BAS and IAS services in Melbourne.
Proven Track Record
On Google, we have a 5-star rating and a 4.8 rating on Clutch because our clients have witnessed momentous financial outcomes.
TPB & ASIC Registered
Pennywise Accountants is a registered company with ASIC, and our tax professionals are licensed with the Tax Practitioners Board (TPB).
Commitment to Excellence
Our team of chartered accountants, with over 15 years of experience, stay updated with the latest financial regulations.
Accurate GST Reporting
We help you track and report GST properly, making sure your records are clear and correct.
Thorough Reconciliation
We check your bank and account records end-to-end to catch any errors or unusual activity.
Our Services
We help our customers through our bookkeeping package, which includes setting up the cloud-based software, Xero and QuickBooks, on their system. These popular accounting software programs simplify financial work and increase cash flow efficiency.
BAS Preparation & Lodgement
We handle the full preparation and timely lodgement of your BAS with the ATO. You’ll never have to worry about missing a deadline or getting a fine.
GST Reporting & Reconciliation
We help you correctly report GST collected and paid on all your sales and expenses. Every figure is checked and matched so there are no surprises.
PAYG Withholding Management
If you have employees, we’ll calculate and report the right amount of tax to withhold from wages. We keep everything accurate and ATO-compliant.
PAYG Instalments (Income Tax)
We calculate your income tax instalments so you stay on track with ATO payments. This helps avoid large tax bills at the end of the year.
IAS Preparation & Lodgement
We prepare and lodge your IAS forms on time for businesses not registered for GST. Whether it’s monthly or quarterly, we’ve got it covered.
ATO Support & Record Keeping
We deal directly with the ATO if any issues come up. Plus, we help you keep clear, organised records for peace of mind at tax time.
Ready to Take Control of Your Financial Future?
5 prestigious awards and ISO certification have been bestowed upon us, and we have helped 1000+ clients in Melbourne so far and we can help your business as well.
Contact us today to schedule a consultation and discover how PennyWise Accountants can help you achieve your financial goals.
FAQ
Most frequent questions and answers
Sure, BAS stands for Business Activity Statement. It is a form that businesses registered for GST in Australia have to fill out. It helps the ATO know how much tax the business has paid and collected.
IAS (Instalment Activity Statement) is for businesses or individuals not registered for GST, but still need to report things like ‘PAYG tax’ for themselves or their staff.
We provide the following services:
- BAS Preparation & Lodgement
- GST Reporting & Reconciliation
- PAYG Withholding Management
- PAYG Instalments (Income Tax)
- IAS Preparation & Lodgement
- ATO Support & Record Keeping
Yes, all accountants in Pennywise are licensed with the Tax Practitioners Board (TPB). Our accountants work very hard without cutting corners on quality.
Yes, we serve clients across Australia. Whether you need in-person or online consultations
