How do you reduce tax legally by paying less BAS? In this video, I explain some things you should consider when reporting your business activity statements (BAS) to the ATO in order to reduce the amount of tax you are paying. It's important to understand what situations are considered taxable in order to report accurately whilst still minimising your tax liability.

Things to consider:
1. GST are you paying on a cash or accruals basis? What are the benefits in each situation?
2. PAYG Withholdings how much are you paying your employees or yourself in relation to the amount of profit your business is generating?
3. PAYG Income Tax are you making a similar amount of profit vs. last financial year?
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Davie has over 10 years experience in advising businesses in management accounting and taxation issues. He heads up a passionate team at Box Advisory Group who are dedicated to offering proactive and outstanding service to our clients.

Davie’s extensive experience in providing tax and consulting advice and astute business knowledge has paved the way for success for many businesses.

He is a member of the Chartered Accountants Australian and New Zealand, a member of the Australian Tax Practitioners Board and holds a Bachelor of Commerce degree from the University of New South Wales.
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DISCLAIMER: Please note that every effort has been made to ensure that information provided in this video is accurate. You should note, however, that the information is intended as a guide only, providing an overview of general information available to contractors and small businesses. This guide is not intended to be an exhaustive source of information and should not be seen to constitute legal or tax advice. You should, where necessary, seek your own advice for any legal or tax issues raised in your business affairs.