Bookkeeping Services

AS Statements

Monthly IAS statements is to report:

• Pay as you go (PAYG) instalments
• PAYE withholding tax for employees

IAS statements is for the above obligations and may need to be completed monthly, quarterly or annually.
The PAYG is the prepayment of income tax (was previously known as “provisional tax”); or tax prepaid based on the previous year’s tax return.
Most of the items reported on the IAS statements will also be reported on the BAS (Business Activity Statement).
For ease of lodgement – the tax office has set up a business portal – providing a service where IAS statements and BAS lodgments are lodged directly into the tax office electronically.