Business Activity Statements

Once you register for GST, you will also be required to lodge quarterly activity statements known as Business Activity Statements (BAS) to declare the GST you charged your clients and the GST you paid on your expenses. The difference will be the GST payable to the ATO or refundable to you.

Your BAS will report your business revenue to the ATO for the quarter, and any Goods & Services Tax (GST) on both your sales and expenses. You will either have a GST refund (if GST-related expenses are more than GST-related sales) or a GST payable (if sales exceed GST-related expenses).

Your BAS will also report any employee wages and PAYG withholding tax.

The withholding tax will be added to the GST. By lodging your BAS through a registered tax agent such as Tax Delivery & Accounting Solutions, you will get an additional ONE MONTH to make payments which can be great for helping with your business cash flow.

The ATO sends to each registered business before completing each reporting period a BAS tailor-made for the business entity. The BAS may be given to the company as a paper form, electronically, or by the business’s registered tax agent. Parts of the BAS can be pre-filled.

Associated with the BAS is the Instalment Activity Statement (IAS), utilised by taxpayers who are not listed for the GST but have other tax commitments. An IAS is also used by entities that make a quarterly BAS but are obligated to release their PAYG withholding tax every month.

The business activity statement reporting system was launched in 2000 as a component of significant tax reform, which also involved the launching of the goods and services tax (GST). The different forms and reporting systems have evolved considerably since the first introduction of the BAS.