A handy tax and BAS calculator for Australian businesses on Google Play store (Blog.A handy tax & BAS calculator for Australian businesses on Google Play store)

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By Lockerz

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By Lockerz

Australia has a complex tax system. This makes it very time consuming for Australian businesses and individuals to manage our tax affairs. If we had a simpler tax system, we could spend more time serving our customers, working on our business or spend more quality time with our family. However, things aren't going to get any better; likely they will only get more complicated. The Australian government changes its taxation scheme every year. For example, we could pay 0 or 1% of income on the Medicare Levy Surcharge (MLS) for the 2011-12 income year. But for the 2012-13 income year, you could be paying 0, 1%, 1.25% to 1.5% of your income on MLS depending on your level of private health insurance.

Our goal is to help businesses to be more productive, and essentially more profitable. This is why we are so proud to release MazeTax - a tax and BAS calculator app for Australian businesses. You can download this app from the Google Play store and the Apple's AppStore. The app is free.

MazeTax assists your businesses with 2 things:

1. Tax calculation

2. BAS

1. Tax

MazeTax calculates Medicare levy, HELP, Medicare Levy Surcharge, flood levy (for 2011-12) and superannuation contribution. Most importantly, it gives you the estimate on the PAYG withholding amount.

Note: MazeTax only uses rates for singles in working out Medicare levy and MLS.

2. BAS - Business Activity Statement

As the name suggests, the purpose of BAS is to report your business activity, particularly GST, PAYG tax withheld and income tax instalment to the ATO. As you can see on the screenshot below, MazeTax presents a simplified version of BAS. We believe that it's very simple to understand and is applicable to most small businesses.

For BAS purposes, we need to know our total sales and purchases and the GST-Free component. If we withhold tax from employees or other businesses, we need to report that at 4. Most businesses withhold tax from employees only. The last important item we need to report is the income tax instalment. With these few inputs, MazeTax will tell you if you need to pay the ATO or receive a refund. Remember that BAS deals with whole dollars only.