A Business Activity Statement (BAS) is an important obligation that Australian business owners need to timely lodge to and pay with the Australian Tax Office (ATO) every month or quarter. You can lodge and pay the BAS yourself or engage registered tax agents to lodge them for you. What is most important, regardless of who lodges the BAS, are the lodging and paying dates.
When is BAS due in 2023?
One of the many things that business owners need to stay on top of every year are the BAS lodging and paying dates. Make sure you take note of the following dates for lodging and paying of your BAS for year 2022/23:
| QUARTER | DUE DATE |
|---|---|
| 1ST Quarter – July, August, September | 28 October |
| 2ND Quarter – October, November, December | 28 February |
| 3RD Quarter – January, February, March | 28 April |
| 4TH Quarter – April, May, June | 28 July |
If the due date is on a weekend or public holiday, you can lodge your form and pay on the next business day.
Important in your BAS lodging and paying dates are the following GST reporting and payment cycle:
| Payment Cycle | GST requirements |
|---|---|
| Quarterly | GST turnover is less than $20 million AND the ATO has not told you to report monthly |
| Monthly | GST turnover is $20 million or more |
| Annually | GST turnover is under $75,000 ($150,000 for not-for-profit bodies) AND if you voluntarily registered for GST |
Lodge your BAS even when you can’t pay on due date
Even when you have nothing to report for the period or can’t pay on the due date, it is still best to lodge the BAS on time. According to the ATO, the timely lodging of the BAS even when you can’t pay your dues will notify them that “you’re aware of your obligations and doing your best to meet them.”
What is a BAS?
A BAS is used to report on and pay different types of taxes, such as goods and services tax (GST) or pay as you go (PAYG) installments, PAYG withholding tax, and other taxes. They are used to assess a business’ tax liability, together with other different variables, such as asset size of the taxpayer company. The BAS must include the Australian Business Number (ABN).
The ATO sends the business owner a BAS when it is time to lodge when you register for an ABN and GST.
How to lodge your BAS
There are three ways to lodge your BAS:
- online,
- through a tax or BAS agent, or
- by mail
Lodging online is through different platforms, depending on the type of payor. Individuals and sole traders can access online BAS and ATO services through myGov. Businesses can access these services via a secure ATO website. Businesses in specific industries can also use an SBR-enabled software that they can integrate into their accounting or payroll software. All of these online options allow the payor to manage their tax affairs in one place.
If you’ve engaged a registered tax or BAS agent, they will lodge and pay your obligations on your behalf. Your agent will view your BAS and send you reminders. Even if you have an agent managing your BAS on your behalf, you will still have access to your BAS through the online services.
You can also lodge your BAS by mail. You will receive a pre-addressed envelope together with your BAS package.
When you have nothing to report, you still need to lodge a “nil” BAS. You can do this online or via phone on 13 72 26. You will need to have your BAS document identification number (DIN) handy when you lodge your “nil” BAS via phone.
What if you are untimely in your BAS lodging and paying?
There are many reasons why you can’t pay your BAS on time, one of them being you are cash poor due to unpaid invoices. Even when you can’t pay your BAS on time, you still have to lodge your BAS on time as a penalty may apply if you fail to lodge on time. The ATO suggests contacting them before the due date and they will help you find a solution.
If you or your clients cannot lodge by the lodgement program dates because of exceptional or unforeseen circumstances beyond your or your clients’ control, you can request a deferral. However, please note that if you do request a deferral, you will need to provide supporting reasons.
How we can help with your BAS lodging and paying compliance
As a Debt Collection Agency with offices in Sydney, Brisbane, and Melbourne, Australia, we are here to help you with your debt problems. Aside from the BAS, there are also other tax obligations Australian businesses must comply with. Some businesses are unable to pay their BAS obligations when they come due because of outstanding unpaid debts. We help you collect your debts so you are liquid enough to pay your BAS obligations as they come due. If you need our help, just go to our contact us page and fill in the necessary data we need to get started.
Liam White joined the Slater Byrne Recoveries team in early 2013. He has worked across the credit & dispute resolution industry for a number of years. He is currently working in a Marketing/Head of Sales capacity at Slater Byrne Recoveries.