GST/BAS/BUSINESS ACTIVITY STATEMENTS:
This tax return is also called a GST tax return or a Business Activity Statement (BAS).Generally such tax return services are only required for businesses and traders that are registered for GST. Regardless of whether you make a profit or a loss from trading you are obliged to collect and pay GST on sales to the ATO. This reporting period could be monthly, quarterly or annually. Some businesses are required by law to be registered for GST while others have an option if they are below the threshold. We provide tax return services for both the above options whether it is by law or voluntary registration.
Simpler BAS reporting requirements from 1st July 2017
Who Needs to Lodge a Business Activity Statement
Any business registered for GST needs to lodge a BAS, whether that’s monthly, quarterly or annually depending on your GST turnover. Beyond GST, a BAS also reports PAYG withholding for employees, PAYG instalments, and other tax obligations depending on your registrations.
Our BAS Service
- GST calculation on sales and purchases, checked against correct GST treatment
- PAYG withholding reconciliation for employees
- PAYG instalment calculations where applicable
- Reconciliation of your bookkeeping records ahead of lodgement
- Direct lodgement with the ATO as your registered tax agent
Monthly, Quarterly or Annual BAS
Your lodgement cycle depends primarily on your GST turnover, with larger businesses generally required to lodge monthly and smaller businesses eligible for quarterly or, in some cases, annual lodgement. We help you understand which cycle applies and plan your bookkeeping accordingly.
Avoiding Common BAS Errors
The most common BAS mistakes we see include claiming GST on GST-free or input-taxed purchases, missing PAYG withholding obligations, and reconciliation errors from mixing business and personal transactions. We check for these systematically before every lodgement.
What Happens If You Lodge Late
Late BAS lodgement can attract penalties and interest from the ATO. If you’re behind on one or more BAS periods, we can help you catch up and, where appropriate, discuss remission of penalties with the ATO.
Frequently Asked Questions
How often do I need to lodge a BAS?
Most small businesses lodge quarterly, though your specific cycle depends on your GST turnover and any specific ATO requirements for your business.
What’s included in a BAS besides GST?
PAYG withholding for employees, PAYG instalments if applicable, and any other tax obligations relevant to your registrations, alongside your GST reporting.
Can you lodge my BAS if I use accounting software?
Yes – we work with all major cloud accounting platforms, reconciling your records and lodging directly with the ATO.
What happens if I’ve missed lodging previous BAS periods?
We can help you catch up on overdue BAS lodgements and discuss penalty remission with the ATO where appropriate.
How much does BAS preparation and lodgement cost?
Cost depends on the complexity and volume of your transactions each period. We agree a fixed fee upfront.
Related BAS & Business Services
Need to lodge online rather than in person? See our online business activity statements service, or if you drive for Uber/rideshare, our Uber BAS template. Our bookkeeping service keeps your records BAS-ready year-round.
Not sure how much BAS lodgement costs, how often you need to lodge, or what our BAS checklist includes? Contact our Melbourne team for fast, accurate lodgement.