When is My BAS Due?

The number one question we receive from clients is when to file my BAS (business activity statement)? To help you understand your BAS obligations and how to lodge, we have created this resource.

By adhering to these guidelines, you can confidently meet the requirements set forth by the Australian Taxation Office, accurately charge for your services, and steer clear of any potential late fees or penalties.

GST:

When dealing with BAS, it's crucial to take into account the GST payments. GST is a 10% levy that's imposed on most goods and services for businesses or sole traders who earn over $75,000.

Important to note:

• If your GST turnover is $20 million or more, you will be required to report monthly
• If your GST turnover is less than $20 million, you can report quarterly; or
• If you have voluntarily applied for GST and your turnover is under $75,000 (or $150,000 for non-profits), you can report annually.

Are you familiar with lodging your activity statement?

There are two options available to you – you can either do it yourself or seek the assistance of a registered Tax Agent.

If you opt to do it alone, you can use the ATO app to set calendar reminders on your phone for important dates. This will help you stay on top of your return and ensure timely payment. The ATO online services are the most convenient way to lodge your statement on your own.

Submitting your activity statements electronically is a simple and convenient way to pay. But if you're not comfortable with online services, you can still use the postal service. Choose the method that suits you best to make the process stress-free and ensure that you submit your lodgements on time.

It may be highly beneficial to seek assistance from a Tax Agent when completing your activity statement. With their help, you can ensure that your statement is accurate and complete. Moreover, depending on your eligibility, they may have a different deadline than if you were to file on your own.

Quarterly BAS Returns

Please note that for the 2023/24 financial year, quarterly activity statements have specific lodgement dates.

• Quarter 1 (1 July 2023 to 30 September 2023): due date 28 October 2023
• Quarter 2 (1 October 2023 to 31 December 2023): due date 28 February 2024
• Quarter 3 (1 January 2024 to 31 March 2024): due date 28 April 2024
• Quarter 4 (1 April 2024 to 30 June 2024): due date 28 July 2024

The December due date remains the same as an extension is always automatically applied to this quarterly BAS. Generally, BAS/Tax Agents are granted an automatic four week extension for quarterly BAS for quarters 1, 3 and 4.

Monthly BAS

Remember to lodge and pay your large business monthly returns by the 21st of the month following the taxable period. For example, the July monthly BAS must be paid by August 21st.

Monthly activity statements only apply to businesses with a GST turnover over $20 million. Small businesses rarely lodge monthly.

Annual BAS

If you have voluntarily applied for GST and fall under the $75,000 threshold (or $150,000 for non-profit organizations), annual reporting is required. The deadline for submitting your BAS is the same as your tax return deadline. If you are not required to file a tax return, the BAS submission deadline is on 28 February after the annual tax period.

BAS (Tax Agent Due Dates)

It's worth noting that BAS reports cover more than just GST. They also act as income statements for PAYG instalments and PAYG withholding. Payment summaries during the financial year will summarize wages paid. It's important to remember that superannuation guarantee payments are reported and lodged separately on activity statements. Small businesses generally lodge their statements quarterly, and if you choose to lodge quarterly, registered BAS Agents (or Tax Agents) typically receive a four-week extension on the original due date for lodgement and payment of returns. Due dates vary depending on the lodgement frequency.

• Q1 September Quarter: due date extended to 25 November
• Q2 December Quarter: due date remains at 28 February
• Q3 March Quarter: due date extended to 26 May
• Q4 June Quarter: due date extended to 25 August

Monthly BAS

If you choose to submit your Monthly BAS through a BAS/Tax Agent, please note that the standard due date of the 21st of the month after the respective periods will still apply, and no extensions will be granted. It is important that monthly lodgers comply with these dates:

• July: due date 21 August
• August: due date 21 September
• September: due date 21 October
• October: due date 21 November
• November: due date 21 December
• December: due date 21 January
• January: due date 21 February
• February: due date 21 March
• March: due date 21 April
• April: due date 21 May
• May: due date 21 June
• June: due date 21 July