Running a business in Australia comes with many responsibilities — and one of the most important is lodging your Business Activity Statement (BAS). Whether you’re a new business owner or need a refresher, this guide will walk you through what a Business Activity Statement (BAS) is, who needs to lodge it, how to lodge it, and common pitfalls to avoid.
What is BAS?
The Business Activity Statement (BAS) is a form submitted to the Australian Taxation Office (ATO) to report and pay:
- Goods and Services Tax (GST)
- Pay As You Go (PAYG) withholding and installments
- Fringe Benefits Tax (FBT) instalments
- Wine Equalisation Tax (WET) or Luxury Car Tax (LCT), if applicable
It’s essentially how businesses report their tax obligations to the government — typically monthly, quarterly, or annually, depending on your situation.
Who Needs to Lodge a BAS?
You need to lodge a BAS if:
- Your business is registered for GST (i.e., you earn $75,000+ per year or $150,000 for non-profits)
- You have employees and withhold PAYG tax
- You are part of specific tax schemes (e.g., FBT, fuel tax credits)
Note: If you’re not registered for GST, you don’t need to lodge a BAS — but you might still have to submit other tax returns.
BAS Lodgement Due Dates
Lodgement FrequencyDue Date Example (2025)
Monthly 21st of the following month
Quarterly 28th of the following month (e.g., Q1 BAS is due 28 April)
Annually Due when you lodge your tax return
If you use a registered tax or BAS agent, you may be eligible for extended deadlines.
What Information Do You Need to Lodge a Business Activity Statement (BAS)?
Before lodging, gather:
- Total sales income and GST collected
- GST paid on purchases
- Employee wages and withheld PAYG
- Fuel purchases (for fuel tax credits if applicable)
- Any other relevant tax credits
Using cloud accounting software (such as Xero, MYOB, or QuickBooks) can automatically track this information and prepare your Business Activity Statement (BAS).
How to Lodge Your BAS
You can lodge your BAS in one of the following ways:
- Online via myGov (linked to ATO)
- Using business software with Standard Business Reporting (SBR)
- Through a registered BAS or tax agent
- By paper form (only if you receive one by mail from ATO)
Common BAS Mistakes to Avoid
- Incorrect GST calculations
- Missing deadlines (can lead to late fees)
- Forgetting PAYG installments
- Overclaiming GST on non-business expenses
- Failing to keep records for 5+ years
Tips for Easy and Accurate BAS Lodgement
- Keep business and personal expenses separate
- Reconcile your accounts monthly
- Use cloud accounting tools to automate reports
- Lodge on time or request extensions if needed
- Consider hiring a registered BAS agent for precision and peace of mind
BAS Lodgement Example (Quarterly)
Let’s say your business had:
- $50,000 in sales (including $4,545 GST)
- $20,000 in expenses (including $1,818 GST)
Your BAS would report:
- GST on sales: $4,545
- GST on purchases: $1,818
- GST payable: $4,545 – $1,818 = $2,727
This amount is what you’ll pay to the ATO.
Conclusion
Lodging your Business Activity Statement (BAS) correctly and on time is crucial for ensuring your business remains compliant with Australian tax laws. Whether you’re a sole trader or running a growing company, comprehending your obligations and using the right tools can make BAS lodgement a breeze.
Need BAS Help?
Don’t let tax paperwork slow you down. Contact our team of BAS-qualified professionals for stress-free reporting and Compliance. Book your 30 minutes free consultation today!