What is BAS? A Beginner’s Guide for New Business Owners

28/07/2025 06:28 PM

What is BAS? A Beginner’s Guide for New Business Owners

When you start a business in Australia and register for Goods and Services Tax (GST), you’ll be required to submit a Business Activity Statement (BAS). This is a regular report lodged with the Australian Taxation Office (ATO) that helps you report and pay your tax obligations.

BAS covers a range of business taxes, including GST on your sales and purchases, Pay As You Go (PAYG) withholding for employee wages, PAYG income tax instalments, and other obligations such as fuel tax credits or fringe benefits tax instalments if they apply to your business.

The ATO determines how often you need to lodge your BAS, which is usually monthly, quarterly, or annually. Your lodgement frequency is based on your business activity and the information you provide when registering for GST.

A typical BAS will ask you to report:

The GST you collected on sales
The GST you paid on business-related purchases
PAYG tax withheld from employee wages
Any other relevant tax obligations based on your business setup

You can lodge your BAS online through the ATO’s Business Portal, through accounting software, or with the help of a registered tax or BAS agent. Even if your business has not made any taxable sales during the reporting period, you are still required to lodge a BAS if you are registered for GST.

It’s important to lodge your BAS on time to avoid penalties and interest charges. Maintaining accurate and up-to-date records throughout the reporting period makes the BAS process much easier and reduces the risk of errors.

For many new business owners, lodging BAS can seem complex at first. However, with the right support and systems in place, it becomes a manageable part of your business routine. Seeking advice from a qualified professional can also ensure that you're meeting all your obligations correctly.

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