Business Activity Statement (BAS) in Australia – What It Is, What to Include & How to Lodge It Right

The Business Activity Statement (BAS) is a tax reporting form issued by the ATO. It’s how Australian businesses report and pay GST, PAYG withholding, and other tax obligations. If your business is registered for GST, lodging BAS accurately and on time is mandatory — and getting it wrong can cost you in fines, interest, or overpaid tax.

At Ozobooks, we specialise in preparing and lodging BAS for Australian small businesses. Whether you need ongoing BAS services or help fixing past submissions, we’ve got your back.

What Is a BAS?

A Business Activity Statement is used to report key tax obligations to the Australian Taxation Office (ATO). Depending on your business, a BAS may include:

• Goods and Services Tax (GST)
• PAYG withholding for employees
• PAYG instalments (income tax prepayments)
• Fringe Benefits Tax (FBT) instalments
• Fuel tax credits

When Do You Need to Lodge BAS?

Most businesses lodge BAS either:

• Quarterly (standard for most small businesses)
• Monthly (for larger or high-GST turnover entities)
• Annually (optional for very small businesses)

Missing your BAS deadline? The ATO may charge failure-to-lodge penalties and apply interest on late payments. What’s Included in a BAS?

A typical BAS form will ask for:

• Total sales (including GST-free)
• GST collected and paid
• PAYG amounts withheld from staff wages
• PAYG instalments (if applicable)
• Any GST adjustments or credits

Common BAS Mistakes to Avoid

❌ Lodging late
❌ Missing PAYG obligations
❌ Claiming GST on personal or ineligible purchases
❌ Using wrong reporting codes
❌ Not reconciling accounts before submission

At Ozobooks, we double-check every BAS before submission, ensuring nothing gets missed — and that you’re claiming every eligible dollar back.

Our BAS Services Include:

• BAS preparation & lodgement
• GST, PAYG, and FBT review
• ATO follow-up or adjustments
• Late BAS catch-up and compliance fixes
• Guidance on quarterly vs monthly reporting

FAQ

Q1: Do I need to lodge BAS if I made no sales?
Yes. Even if your business had no income, you must still lodge a “nil BAS” to stay compliant with ATO requirements.

Q2: Can I lodge BAS myself?
Yes, through the ATO Business Portal — but many business owners prefer to use a registered BAS agent like Ozobooks to avoid errors and save time.

Q3: What happens if I miss my BAS due date?
The ATO may issue penalties of up to $313 per 28 days late, plus interest. We can help you backdate and correct missed BAS lodgements.

Q4: How do I know if my BAS is correct?
Make sure your bookkeeping is up to date and all GST inputs/outputs are properly recorded. We reconcile every BAS to your financials before submission.