Key takeaways
- Your BAS reports GST, PAYG withholding, PAYG instalments and other taxes.
- Quarterly BAS is generally due on the 28th of the month after the quarter (Q2: 28 February).
- Businesses under $10 million turnover generally use Simpler BAS for GST.
- Reconcile your accounts before every BAS — not after.
A Business Activity Statement (BAS) is how businesses report and pay several tax obligations to the ATO. Understanding what each section means makes BAS time far less stressful.
What a BAS reports
Most businesses with GST turnover under $10 million report GST using Simpler BAS, which only requires G1, 1A and 1B for the GST section.
| Label | What it reports |
|---|---|
| G1 | Total sales, including GST |
| 1A | GST collected on sales |
| 1B | GST credits on purchases |
| W1 | Total wages paid |
| W2 | Tax withheld from wages and other payments |
| T7 / 5A | PAYG income tax instalment |
Due dates
Monthly BAS is generally due on the 21st of the following month. Businesses with GST turnover of $20 million or more must report monthly. Different due dates may apply when lodging through a registered agent.
| Quarter | Period | Generally due |
|---|---|---|
| Q1 | July – September | 28 October |
| Q2 | October – December | 28 February |
| Q3 | January – March | 28 April |
| Q4 | April – June | 28 July |
Preparing an accurate BAS
- Reconcile every bank and credit card account for the period
- Check GST coding — especially GST-free and input-taxed items
- Make sure you hold tax invoices for credits over $82.50
- Separate capital purchases from other purchases
- Exclude private expenses and wages paid to yourself as a sole trader
- Match PAYG withholding to your payroll reports
If you can't pay
Lodge on time anyway. Failure-to-lodge penalties are separate from the amount owing, and the ATO offers payment plans for eligible debts.
Official sources
General information only. This article doesn't take into account your personal circumstances and isn't a substitute for professional advice. Tax rules and thresholds change — check current details with the ATO or contact us for advice specific to you.
Published by
ANS Taxation & Accounting
Melbourne accounting and tax practice