If you’re running a business in Australia, chances are you’ve heard of BAS. But what exactly is it? Why does it matter so much? And how can you make it easier to manage?
In this easy-to-understand guide, we’ll walk you through everything you need to know about Business Activity Statements, from what they are to how to lodge them, and even how to avoid common mistakes. So, whether you’re a sole trader or managing a growing company, this article is here to help you stay on top of your taxes with confidence.
What is a BAS?
BAS, short for Business Activity Statement, is a form that Australian businesses must submit to the Australian Taxation Office (ATO). It helps report and pay various taxes, including:
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Goods and Services Tax (GST)
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Pay As You Go (PAYG) withholding
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PAYG instalments
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Fringe Benefits Tax (FBT)
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Luxury Car Tax (LCT)
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Fuel Tax Credits
You can think of it as a summary of the taxes your business owes—or is owed—over a certain period.
A small café owner once said: “Before I knew what BAS was, I kept getting fined for late submissions. But once I got help from a professional, it became so much easier.”
Who Needs to Lodge a BAS?
If you’re registered for GST, you must lodge a BAS. This applies to:
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Sole traders
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Partnerships
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Companies
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Trusts
If you’re not sure whether you need to register for GST, here’s a quick rule of thumb: If your business earns $75,000 or more annually ($150,000 for non-profits), you need to register.
Learn more about GST registration
️ How Often Do You Lodge a BAS?
Depending on your business size, the ATO requires lodgement:
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Monthly: For large businesses (usually turnover above $20 million)
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Quarterly: Most common for small and medium businesses
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Annually: If you voluntarily register for GST but your turnover is under the threshold
Don’t forget these deadlines:
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Monthly BAS: Due on the 21st of the following month
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Quarterly BAS: Due on the 28th of the month after the quarter ends
Step-by-Step: How to Lodge Your BAS
Filing your Business Activity Statement doesn’t have to be a headache. Here’s a simple step-by-step process:
1. Collect Your Financial Records
Make sure your:
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Sales and income are up-to-date
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Expenses are recorded
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GST has been correctly calculated
Pro Tip: Use accounting software like Xero or MYOB to keep track of this automatically.
2. Complete the BAS Form
Depending on your tax obligations, your BAS may have different sections. Be sure to fill them accurately:
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GST: Total sales, export sales, GST on sales/purchases
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PAYG Withholding: Tax withheld from employees
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PAYG Instalments: Pre-paid tax based on your estimated income
3. Lodge Your BAS
You can lodge your BAS through:
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Your registered tax or BAS agent
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Mail (less common)
4. Pay the Amount Owed
Once submitted, make sure you pay your BAS by the due date to avoid penalties. You can pay via BPAY, credit card, or through your online banking.
❗ Common BAS Mistakes to Avoid
Even experienced business owners slip up sometimes. Here are a few BAS errors you should watch out for:
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Mixing up GST-inclusive and GST-exclusive figures
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Not reporting all income or expenses
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Missing due dates
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Not keeping receipts or invoices
That’s where a professional can help.
Why Use a BAS Agent?
Hiring a qualified BAS agent can save you time, money, and stress. Agents understand tax law, ensure compliance, and may even get you extensions on BAS deadlines.
We recommend working with Perfect Accounting PTY Ltd — a trusted team of Accounting Agents who specialise in BAS services, tax preparation, and business advisory. Their friendly team offers tailored support so you can focus on growing your business, not stressing over forms.
One client said: “Perfect Accounting took over our messy BAS situation and sorted everything in a week. It felt like a weight had been lifted.”
Ready to Simplify Your BAS?
Let’s face it—tax and compliance aren’t everyone’s cup of tea. But with the right help, staying compliant can be smooth and stress-free.
If you’re tired of scrambling to lodge your Business Activity Statement, or if you’re worried about making costly mistakes, now’s the time to act.
Contact Perfect Accounting PTY Ltd and get a free consultation today!
Their team will walk you through the entire BAS process, answer your questions, and offer peace of mind knowing your business is in good hands.
Final Thoughts
Managing your BAS may seem daunting at first, but with the right knowledge—and the right help—it becomes just another part of doing business in Australia. Take control of your compliance, keep your records clean, and don’t hesitate to lean on professionals who do this every day.
✅ Remember:
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Know your lodgement cycle
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Stay on top of GST and PAYG
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Keep detailed records
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And most importantly, consider using a registered BAS agent like Perfect Accounting PTY Ltd
BAS doesn’t have to be a burden. With confidence, clarity, and expert help, you’ve got this!
