The Importance of Quarterly BAS: What You Need to Report
If you’re running a business and registered for GST, you’re required to lodge a Business Activity Statement (BAS). For many small businesses, this is done quarterly. While BAS may seem like just another compliance task, staying on top of it helps you manage your cash flow, meet your obligations, and avoid penalties.
1. What Is a BAS?
A BAS is a form submitted to the Australian Taxation Office (ATO) that reports and pays:
Goods and Services Tax (GST)
Pay As You Go (PAYG) Withholding
PAYG Instalments
Other taxes (e.g. FBT, wine equalisation tax)
Most businesses lodge quarterly, but some may lodge monthly or annually, depending on their turnover and preferences.
2. BAS Due Dates
*If you lodge through a registered tax agent, you may be eligible for extended due dates.
3. What Needs to Be Reported?
✅ GST Collected
Sales and other income on which GST applies
Export and input-taxed sales
✅ GST Paid
Business purchases and expenses with GST included
Capital purchases
✅ PAYG Withholding
Tax withheld from employee wages
✅ PAYG Instalments
Pre-paid tax on your business or investment income
4. Common Mistakes to Avoid
Incorrectly coding income or expenses as GST-free or taxable
Failing to claim GST on capital purchases like vehicles or equipment
Not reconciling payroll with STP and PAYG
Missing due dates (penalties and interest may apply)
5. How to Prepare Your BAS Properly
Use accounting software like Xero, MYOB, or QuickBooks to track income and expenses
Reconcile your bank transactions and GST codes before lodging
Review your payroll data to ensure PAYG withholding is accurate
Keep digital records of invoices and receipts
6. Benefits of Lodging on Time
Avoid late lodgment penalties
Stay on top of cash flow
Build a good compliance history with the ATO
Access ATO payment plans if needed
Final Tip
Even if your business has made no income or you’re behind on payments, you still need to lodge your BAS. Lodging on time — even with no payment — shows the ATO you’re engaged and may reduce penalties or interest.
Need help lodging your BAS? We offer full BAS preparation and lodgment services — accurate, timely, and stress-free. Let us take care of the numbers so you can focus on your business.