Business Activity Statements (BAS) are an important part of running a business in Australia. BAS reporting allows businesses to report and pay obligations such as GST, PAYG withholding, PAYG instalments, and other tax liabilities to the Australian Taxation Office (ATO). Understanding BAS due dates is essential to avoid penalties, interest charges, and compliance issues.
What Is BAS?
A BAS is a form submitted to the ATO that helps businesses report and pay various tax obligations. Most businesses registered for GST are required to lodge BAS either monthly, quarterly, or annually depending on their turnover and reporting requirements.
Quarterly BAS Due Dates
Many small and medium-sized businesses lodge BAS quarterly. Standard quarterly BAS due dates are:
- Quarter 1 (July – September): Due 28 October
- Quarter 2 (October – December): Due 28 February
- Quarter 3 (January – March): Due 28 April
- Quarter 4 (April – June): Due 28 July
Businesses using a registered tax or BAS agent may receive extended lodgement deadlines.
Monthly BAS Due Dates
Businesses reporting monthly generally need to lodge and pay BAS by the 21st day of the following month. For example, a BAS for July is usually due by 21 August.
Annual GST Reporting
Some businesses with lower turnover may report GST annually instead of quarterly. Annual GST returns are generally lodged alongside the business tax return.
Common BAS Mistakes
Many businesses experience BAS issues due to:
- Missing lodgement deadlines
- Incorrect GST calculations
- Poor record keeping
- Failing to separate business and personal expenses
- Not reconciling accounts regularly
These mistakes can lead to penalties, cash flow problems, and unnecessary stress.
Tips To Stay BAS Compliant
To manage BAS obligations effectively:
- Keep bookkeeping records updated regularly
- Use accounting software for accurate reporting
- Set reminders for due dates
- Reconcile bank accounts monthly
- Work with an experienced accountant or BAS agent
How RNM Partners Can Help
At RNM Partners, we assist businesses with BAS preparation, GST reporting, bookkeeping, and compliance support. Our goal is to help businesses stay organised, meet deadlines, and maintain financial confidence throughout the year.