Introduction to BAS
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Introduction to BAS
Business Activity Statement (BAS)
If a Business Entity is Registered for GST, then you need to lodge BAS
BAS help you to Report and Pay
Good and Service Tax
PAYG Instalments
PAYG Withheld
FBT Instalment
Other Taxes
Who to Lodge BAS? | Period |
GST Turnover is Less than $ 75000 | Annually |
Not For Profit Bodies Less than $ 150000 | Annually |
GST Turnover More than $ 75000 But less than $ 20 Million | Quarterly |
GST Turnover More than or Equal to $20 Million | Monthly |
No Sale During the period still need to lodge BAS as Nil | Nothing to Report (Nil, BAS) |
When to Lodge BAS?
Type | Period | Due Date |
Quarterly BAS | July, August, September | 28th October |
October, November, December | 28th February | |
January, February, and March | 28th April | |
April, May, and June | 28th July | |
Monthly BAS | 21st day of the Following Month | |
Annually BAS | If required to Lodge Tax Return | 31st October |
If Not Required to Lodge Tax Return | 28th February |
BAS Report | As per BAS | As Per Xero |
GST on Sales | XXX | XXX |
GST on Purchase | (XXX) | (XXX) |
PAYG Withheld | XXX | XXX |
PAYG Instalment | XXX | XXX |
FBT Instalment | XXX | XXX |
Amount Owing to ATO | XXX | XXX |
Total Sales (Net Sales + GST) | XXX | XXX |
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