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BAS lodgement advice from the ATO

Online lodgement

Lodging online is the easiest and most convenient way to lodge. It’s is quick, secure, tailored to you. You can also view and revise your previously lodged statements.

If you lodge quarterly, and need a little extra time to lodge, you may receive an extra two weeks to lodge and pay.

So take time back and lodge your BAS online.

Remember, you still need to lodge your BAS by the due date, even if you can’t pay on time. Let us know as soon as you can if you don’t think you’ll be able to lodge or pay on time and we’ll work with you to find a solution.

Useful links:

Visit: Registering for online services

Visit: Two week deferral

Watch: Lodging and paying on time

Business portal

The Business Portal will be your starting point for lodging your activity statement online. It’s a secure ATO portal where you can manage your business tax affairs easily online, and when it’s convenient to you.

You can use the business portal to access a range of services such as:

  • registering for GST or PAYG withholding
  • lodging, revising or viewing current or past activity statement/s
  • requesting refunds or transfers between accounts
  • updating your business details such as contact information and financial institution details

To access the Business Portal you will need:

  • an ABN connected to your myGov account, or
  • a compatible AUSkey.

Note if you have accounting software you can use Standard Business Reporting to lodge.

Useful links:

Watch: Lodging an activity statement through the business portal

Visit: Using the business portal

 

Completing your BAS form

Your BAS will help you report and pay your:

  • Goods and services tax (GST)
  • Pay as you go (PAYG) income tax instalment
  • Pay as you go (PAYG) tax withheld
  • Fringe benefits tax (FBT) instalment
  • Luxury car tax (LCT)
  • Wine equalisation tax (WET)
  • Fuel tax credits

Even if you have nothing to report on your BAS you still have to lodge a nil statement.

The easiest and fastest way to lodge is online. Simply select the ‘Prepare as NIL’ option on your activity statement form and you won’t need to fill in each label as a zero.

Useful links:

Visit: Completing your BAS labels

Visit: Nothing to report on your activity statement

Record keeping

Good record keeping is essential for anyone in business because it makes it easier to manage your cash flow, meet your tax obligations and understand how your business is doing. Records you need to keep:

  • Receipts and tax invoices for good and services you buy and sell
  • Employee wages and other costs to your business (including license fees and costs of utilities)
  • Bank statements

Good record keeping practices can help you get your refund faster if we need to check your claim. Some tips on good record keeping are:

  • Keep accurate records of all sales and purchases
  • Store your records electronically
  • Ensure your records contain enough information to calculate and support the amount on your BAS, and
  • Retain a copy of all tax invoices and other GST records for 5 years.

Useful links:

Remember, a registered tax or BAS agent can also help you with tax advice.

ATO Staff Writer

ATO