Recently, we have received many inquiries regarding to how to set up a business and how to manage it. As a registered CPA public practice, our advice is that you should understand your tax obligations. The most important one is Goods and Services Tax (“GST”). Most business owners have come across business activity statement (“BAS”) before. Usually the statement is related to GST, PAYG withholding and PAYG instalment. We would like to explain GST to help business owners understand their BAS obligations and enable them to collect enough information during their daily business operations to fulfill these reporting requirements.
Claire Chang