Lodging your business activity statement

Businesses that are registered for GST are required to lodge a business activity statement (BAS). These assist in the reporting and payment of:

• Goods and services tax (GST)
• Pay as you go (PAYG) instalments
• PAYG withholding tax
• Other tax obligations

ATO will automatically send businesses who are registered for an ABN and GST a BAS when it is due for lodgement. 

Businesses are given various options to lodge their BAS:

• Online services for individuals and sole traders – which may be accessed through myGov
• Business Portal – which is a secure website created by the ATO to assist businesses in managing their tax online
• SBR-enabled software – which allows access to lodgement from different financial, accounting and payroll software and can be integrated to industry-specific business software. 

Posted on 7 January '21 by admin, under tax.