If your business is registered for GST, managing your Business Activity Statement (BAS) is a key part of staying compliant with the Australian Taxation Office (ATO). BAS lodgements summarise your tax obligations, such as GST, PAYG instalments, and more. Knowing your BAS due dates and how to manage lodgements can help you avoid unnecessary penalties and keep your business running smoothly.
A BAS is a form issued by the ATO that businesses registered for GST must lodge regularly. It provides a summary of your tax obligations, including:
The information in your BAS determines whether you owe the ATO or are entitled to a refund.
Businesses with an annual turnover of more than $20 million must lodge their BAS monthly. The due date is the 21st of the following month. For example, the BAS for October is due on 21 November.
If your business turnover is less than $20 million, you will likely lodge your BAS quarterly. The deadlines are:
Smaller businesses with a turnover below $75,000 (or $150,000 for non-profits) may opt for annual BAS lodgement. In this case, the BAS is due along with your income tax return.
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There are several ways to lodge your BAS:
Lodging on time is critical, even if you’re unable to pay the amount owed. Late lodgements can attract penalties, so always prioritise meeting the deadlines.
Payments can be made using BPAY, a credit card, or a direct debit from your bank account. You’ll need your Payment Reference Number (PRN) to ensure the payment is credited correctly.
If you’re unable to pay in full by the due date, it’s better to lodge your BAS on time and arrange a payment plan with the ATO. Interest charges may apply, but staying on top of lodgements helps avoid additional penalties.
What if I need a refund?
BAS refunds usually take 7–14 business days to process. Delays may occur if your lodgements aren’t up to date, your bank details are incorrect, or you owe money to the ATO.
Do sole traders need to lodge BAS?
Yes, if your turnover exceeds $75,000 annually. Sole traders earning below this threshold are not required to register for GST or lodge a BAS.
Can I pay my BAS in instalments?
Yes, you can request a payment plan with the ATO. However, interest charges may apply. Discussing your options with a BAS agent can help you make the best decision for your circumstances.
Navigating BAS obligations doesn’t have to be stressful. At VLL Partners, we provide expert BAS services to help businesses like yours stay compliant and focused on growth. Whether you need assistance with lodgements, payment plans, or managing your GST obligations, our team is here to support you.
Contact VLL Partners today to simplify your BAS process and keep your business on track.
