What Is a BAS and When Is It Due?

If your business is registered for GST, you're required to lodge a Business Activity Statement (BAS) with the ATO. Here's everything you need to know.

What Is a BAS?

A BAS is a form submitted to the ATO that reports your business's tax obligations for a specific period. It typically includes:

• GST — the goods and services tax you've collected and paid
• PAYG withholding — tax withheld from employee wages
• PAYG instalments — prepayments of your own income tax
• Fringe benefits tax (FBT) instalments (if applicable)
• Fuel tax credits (if applicable)

Who Needs to Lodge a BAS?

Any business registered for GST must lodge a BAS. You must register for GST if your annual turnover is $75,000 or more (or $150,000 for non-profit organisations). Taxi and ride-share drivers must register regardless of turnover.

How Often Do You Lodge?

Your lodgement frequency depends on your turnover:

• Monthly — if your annual turnover is $20 million or more
• Quarterly — most small businesses (turnover under $20 million)
• Annually — if your turnover is under $75,000 and you've chosen to lodge annually

Quarterly BAS Due Dates

• Q1 (July–September): 28 October
• Q2 (October–December): 28 February
• Q3 (January–March): 28 April
• Q4 (April–June): 28 July

Note: If you lodge through a registered tax agent, you may be eligible for extended due dates.

What Happens If You Lodge Late?

Late lodgement can result in a Failure to Lodge (FTL) penalty. The penalty is calculated based on the size of your business and how late the lodgement is. It's always better to lodge on time — even if you can't pay the full amount.

Let Us Handle Your BAS

Illawarra Accounting and Tax prepares and lodges BAS returns for businesses across the Illawarra. Contact us to take the stress out of your quarterly obligations.