Business Activity Statements

If you own a business, and don’t know what a Business activity statement (BAS) is, you may want to read this…

You’re likely to require a BAS to report on different types of taxes. For example; GST, PAYG withholdings and instalments, and more.

Required Fields

Depending on your business registrations, and frequency of your BAS (monthly or quarterly), you will need to complete different fields.

To get your BAS right, make sure you:

• Reconcile your BAS, with your records
• Check if your transactions are recorded in the correct period
• only complete the fields that you are required to

 

How do I lodge my BAS?

The ATO will send your BAS around 2 weeks prior to the end of your reporting period. Complete it, and return it by the due date indicated on your BAS, as well as any payment required.

 

For more information, check out the business.gov.au website, the source of our information.