All registered businesses must lodge Business Activity Statements (BAS) with the Australian Taxation Office either each month, quarter or yearly. Companies earning more than $70,000 must lodge their statement to report their activities either online or in paper form about the following:
- Fringe Benefits Tax
- Goods and Services
- Luxury Car Tax
- Pay as You Go Withholding
- Pay as You Go Instalments
- Wine Equalisation Tax
At BYO Group, you’ll have a dedicated account manager to oversee all of your business needs, whilst providing you with ongoing support and advice.
BAS Statement Online
Submitting your quarterly BAS online means you could be eligible for a concession that would allow you a further fortnight to lodge it and to pay. To help you through the process, go to:
- https://www.ato.gov.au/General/Online-services/In-detail/Lodging-your-activity-statement-online/. Use your MyGov account to Lodge your BAS – it’s for sole traders and individuals.
- https://www.ato.gov.au/Business/Business-Portal/Getting-started/. This business portal is an ATO website which is secure and can be used to manage your BAS.
- https://www.sbr.gov.au/about-sbr/what-sbr/how-get-sbr-enabled-software. You can lodge your BAS online on this secure site directly from the above link, via accounting or payroll software.
BYO Group is committed to providing tailored bookkeeping solutions for all your business needs, giving you peace of mind that everything is being handled according to the proper standards.
How to Complete a BAS Statement
Here’s how to do a BAS statement online or through completing the form. Make sure your figures are accurate, so you report your BAS right the first time and on the due date.
- Check twice to make sure you’ve included all transactions
- Make sure the dates of your sales and expenses correlate with the BAS reporting period
- When using accounting software, be sure to code items properly
- Make sure all your expenses are for the business
Once you have your figures, you can complete your BAS either online or via hard copy but make sure it is lodged with the ATO by the date due.
If the date of your BAS statement lodgement is near, and you don’t know how you will be able to do your BAS by yourself, you might wonder, “Is there a BAS agent nearby or near me?” Just give BYO Group a call on 0402 100 421; alternatively, you can fill in the convenient online form, and we’ll get back to you. We’re here to help.