Now is an excellent time to ensure your business is prepared to meet the upcoming due dates for Business Activity Statements (BAS). The BAS is applicable if you operate a business registered for GST. Depending on your business turnover and other factors, you may be required to report and pay using a monthly or quarterly BAS, or even annually.

When you register for an Australian Business Number (ABN) and GST, the ATO will automatically send you a BAS when it’s time to lodge. This will help you report and pay your business’s obligations, including:

  • GST
  • Pay As You Go (PAYG) instalments
  • PAYG withholding tax
  • Other taxes and credits, such as FBT instalments, luxury car tax (LCT), wine equalisation tax (WET), and fuel tax credits

Important Due Dates

  • Monthly BAS reports for September are generally due by 21 October.
  • Quarter 1 reports, covering July, August, and September, are typically due by 28 October.
  • Annual GST reports are usually due by 31 October.

You can lodge your BAS online using ATO Online Services, which may provide your business with extra time to lodge. Alternatively, if your business and accounting software includes Standard Business Reporting (SBR) capabilities, you can lodge directly through it. You also have the option to complete and mail a paper BAS.

Payments are generally due on the same date as lodgment. Payment options include electronic transfer, direct debit, credit card, or mailed cheque. You may also choose to have your registered tax agent or BAS agent lodge and handle payments for you, which can also grant you additional time to lodge.

When using an agent, you can still access your BAS through Online Services for Business or myGov, and your agent will also have access to the BAS and reminder messages through their online service.

Tips for Stress-Free BAS Lodgment

To make lodging your BAS as straightforward and stress-free as possible, be sure to:

  • Keep detailed records of all sales, fees, expenses, wages, and other business costs.
  • Maintain appropriate records, such as stocktake records and logbooks for motor vehicle claims.
  • Reconcile your sales with bank statements.
  • Use the correct GST accounting method.
  • Retain all tax invoices and other GST records for five years.

Finally, remember that you (or your agent) must always lodge a BAS by its due date, even if your business has nothing to report for that period. If there is no reporting requirement, you can lodge a “nil” BAS online or by calling the ATO’s automated reporting service.

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