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BAS: what is it and how to lodge it


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Small business guides > Quick guide to GST and BAS > BAS: what is it and how to lodge it

BAS: what is it and how to lodge it

As a GST-registered business you’ll need to let the government know how much you’ve collected and how much you’ve paid. You do this by completing a business activity statement (BAS).

Information you will need

You’ll need a record of how much GST you collected on sales, and how much was paid on purchases. You won’t need to submit tax invoices when you lodge your GST return, but you will need to have them on hand. The IRD may ask to see them later.

What is a BAS?

A BAS is a form that you fill out between one and twelve times a year, depending on your business size. The ATO uses the information on your BAS to work out your GST refund or bill. It’s also used for business income tax (if you’re in the pay-as-you-go system), employee income tax, fringe benefits tax, luxury car tax, wine equalisation tax, and fuel tax credits.

Information you will need

You’ll need a record of how much GST you collected on sales, and how much was paid on purchases. You won’t need to submit tax invoices when you lodge your BAS, but you will need to have them on hand. The ATO may ask to see them later.

Because your BAS may also be used for other tax reasons, you will probably need to provide extra information about your business, its income, and any employees. Learn more on the ATO page about business activity statements.

How to lodge a BAS

You can lodge your BAS online:

What are BAS due dates?

How often you complete a BAS – and when you must submit it – depends on how much business you’re doing. And that’s measured by your annual turnover.

More than $20 million annual turnover
Lodge: Monthly.
Deadlines: You must submit a BAS within 21 days of the month closing.

Less than $20 million annual turnover
Lodge: Quarterly.
Deadlines:
    - Quarter 1 (July-September) BAS is due on 28 October.
    - Quarter 2 (October-December) is due on 28 February.
    - Quarter 3 (January-March) is due on 28 April.
    - Quarter 4 (April-June) is due on 28 July.

If your turnover is less than $10 million, you may be able to lodge annually – but you’re still required to pay a quarterly instalment of the GST you owe.

Less than $75,000 annual turnover (or $150,000 for non-profits)
Lodge: Annually.
Deadline: Submit with income tax return.


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