{"id":285,"date":"2026-03-30T16:03:16","date_gmt":"2026-03-30T16:03:16","guid":{"rendered":"https:\/\/aoneoutsourcing.au\/blog\/preparing-and-lodging-bas-statements-in-australia-what-businesses-need-to-know"},"modified":"2026-05-01T11:18:35","modified_gmt":"2026-05-01T11:18:35","slug":"preparing-and-lodging-bas-statements-in-australia-what-businesses-need-to-know","status":"publish","type":"post","link":"https:\/\/aoneoutsourcing.au\/blog\/preparing-and-lodging-bas-statements-in-australia-what-businesses-need-to-know","title":{"rendered":"Preparing and Lodging BAS Statements in Australia: What Businesses Need to Know"},"content":{"rendered":"\n<p dir=\"ltr\"><span style=\"font-size:18px\">Preparing and lodging BAS statements is very important for any Australian business registered for GST. Thanks to these reports, you can prove you have met your country&rsquo;s tax regulations by submitting accurate financial information to the Australian Taxation Office (ATO). For sole traders, business owners or anybody running an organisation, knowing how to do your BAS Lodgement right helps avoid problems and unwanted fees.<\/span><\/p>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">If reporting seems complicated or you don&rsquo;t know where to begin, a lot of people feel the same way. This guide will explain everything you need, such as BAS Due dates, <a href=\"https:\/\/www.aoneoutsourcing.au\/service\/bas-accounting-services-in-australia\"><strong>preparing BAS statements<\/strong><\/a>, and some regular mistakes businesses make, plus how good BAS services can make everything easier.<\/span><\/p>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">By the end, you&#39;ll have a clearer understanding of how to meet your BAS compliance obligations and why working with a qualified BAS accountant could be the smartest move for your business.<\/span><\/p>\n\n<h2 dir=\"ltr\"><span style=\"font-size:24px\"><strong>What is a BAS Statement?<\/strong><\/span><\/h2>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">A <a href=\"https:\/\/www.aoneoutsourcing.au\/blog\/top-things-to-consider-before-filing-your-bas-in-australia\">Business Activity Statement<\/a> (BAS) is a document from the Australian Taxation Office that business owners registering with the ATO have to use to declare and pay several taxes. It is necessary for companies that comply with GST in Australia.<\/span><\/p>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">The main goal of a BAS is to declare and pay the following particulars:<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Goods and Services Tax (GST) that is collected and paid<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Withholding employee amounts under the PAYG (Pay As You Go) system<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">PAYG instalments for your business profit<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Making the quarterly Fringe Benefits Tax (FBT) instalments<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Fuel tax credits, if applicable<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Small and medium-sized businesses must submit a monthly, quarterly or annual BAS, as required by their turnover and by the ATO. Timely and accurate <a href=\"https:\/\/www.aoneoutsourcing.au\/service\/bas-accounting-services-in-australia\"><strong>BAS preparation<\/strong><\/a> is critical for BAS compliance, as errors or delays can result in penalties and trigger ATO audits.<strong>&nbsp;<\/strong><\/span><\/p>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Regardless of whether you prepare your own BAS or hire someone else, knowing its role and why it matters is the first thing to do for your business.<\/span><\/p>\n\n<h2 dir=\"ltr\"><span style=\"font-size:24px\"><strong>BAS Lodgement Deadlines<\/strong><\/span><\/h2>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Knowing BAS Due Dates will help you pay your taxes on time and not be fined by the ATO. If you don&rsquo;t submit your BAS on time or pay it late, you could receive fines, be charged interest and have your business marked for review. That&rsquo;s why you need to know your BAS quarter dates or monthly schedule to avoid problems.<\/span><\/p>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">The <a href=\"https:\/\/www.aoneoutsourcing.au\/blog\/bas-due-dates-2025-2026-key-deadlines-every-australian-business-should-know\">BAS Due Dates<\/a> are outlined below.<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Monthly Lodgement<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">GST can be a special concern for any business with a high annual turnover or special ways of reporting. You should turn the documents in by the 21st of the following month.<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Quarterly Lodgement (most common for small to medium businesses)<\/strong><\/span><\/h3>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Submit by 28 October for Q1 during the July&ndash;September period.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">October&ndash;December release, with the balance due 28 February (to allow for holiday closures)<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">The deadline for Q3 (January&ndash;March) is 28 April<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">The Q4 share forms are due by 28 July.<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Annual Lodgement<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Only applicable to businesses voluntarily registered for GST with a turnover under the threshold. The same deadline applies for BAS due dates as for your income taxes.<\/span><\/p>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\"><strong>Extensions Available:&nbsp;<\/strong><\/span><\/p>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">If you file your taxes through a BAS or tax agent that&rsquo;s on the ATO&rsquo;s list, you may get more time to pay them. Working with a top <a href=\"https:\/\/www.aoneoutsourcing.au\/service\/bas-accounting-services-in-australia\"><strong>BAS accountant<\/strong><\/a> means you will always have more time to get your BAS preparation done and reviewed.<\/span><\/p>\n\n<h2 dir=\"ltr\"><span style=\"font-size:24px\"><strong>How to Prepare a BAS Statement (Step-by-Step Guide)<\/strong><\/span><\/h2>\n\n<p dir=\"ltr\"><strong><a href=\"https:\/\/www.aoneoutsourcing.au\/service\/bas-accounting-services-in-australia\"><img decoding=\"async\" alt=\"How to Prepare a BAS Statement\" src=\"https:\/\/www.aoneoutsourcing.au\/public\/uploads\/BAS Statement \u00e2\u0080\u0093 Key Steps.webp\" style=\"height:100%; width:100%\" \/><\/a><\/strong><\/p>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">You don&rsquo;t need to feel overwhelmed when <strong><a href=\"https:\/\/www.aoneoutsourcing.au\/blog\/top-things-to-consider-before-filing-your-bas-in-australia\">preparing BAS statements<\/a><\/strong>. Use these clear methods and you will always be compliant, make fewer mistakes and work more efficiently.<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Step 1: Collect all the papers necessary for your tax calculations.<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Grab each document and record that you need to see the whole financial picture:<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Track and organise every transaction you have from sales income.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Whenever you buy something for your business, make sure the invoice includes GST.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Ensure transactions in bank and credit card documents are correct.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Ensure all reported PAYG withholding numbers are correct in your&nbsp;<a href=\"https:\/\/www.aoneoutsourcing.au\/blog\/how-payroll-outsourcing-in-australia-helps-businesses-save-time-and-money\">payroll reports<\/a>.<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">For convenience, put these papers together by date or type to make future procedures easier.<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Step 2: Figure Out Your GST, Determining What You Need to Pay&nbsp;<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Combine the GST charged for the period: List down all the sales from the report on which GST was charged.<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">GST Collected: Add up the net GST paid on business purchases and costs you are entitled to credit for.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">GST Paid: GST collected should be greater than GST paid, so that you can pay the ATO, or so they can refund you.<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Relying on software reduces the chance that errors will happen while calculating these numbers.<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Step 3: Add both PAYG Withholding and Instalments<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">When you hire staff or do it yourself, to pay PAYG tax:<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">PAYG Withholding: Verify what percentage of an employee&rsquo;s wages has been taken for tax purposes.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">PAYG Instalments: Don&rsquo;t forget to go over your payroll reports, as it helps you avoid mistakes in the ATO&rsquo;s PAYG notices.<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">At the end, sync all your data with your accounting software.&nbsp;<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Step 4: Reconcile with your Accounting Software<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Use your accounting software to:<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Match transactions with bank feeds<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Identify discrepancies between recorded and actual amounts.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Ensure all income and expenses are allocated to the correct GST codes<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Most accounting software now comes with reconciliation tools to save you effort. Do not forget to finish the entire set of BAS reporting labels.&nbsp;<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Step 5: Review and Complete BAS Reporting Labels<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">You will find important fields on your BAS form, such as:<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">G1: All sales are included, both those that must pay GST and those that do not<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">1A: From customers, you must collect GST on sales.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">1B: You have to pay GST on your business purchases when they qualify.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">W1 &amp; W2: The total amount of PAYG withholding taken from employee earnings is reported in W1 &amp; W2.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">T7: Instalments of income tax, if any, under the PAYG system<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">You can avoid making mistakes with incorrect labels by using the ATO&rsquo;s BAS form or your accountant&rsquo;s software.<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Step 6: Submit your BAS Statements.<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Various ways are available for you to submit your BAS.<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">You can use the ATO Business Portal to submit documents straight online.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">You can use online accounting softwares by lodging your BAS Statements within their platform.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">A Registered BAS Agent or Tax Agent can file your tax return and usually can request an extension for your filing dates.<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Keep your <a href=\"https:\/\/www.aoneoutsourcing.au\/service\/bas-accounting-services-in-australia\"><strong>BAS lodgement<\/strong><\/a> confirmation and set up your payment before the deadline to prevent facing penalties.&nbsp;<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Step 7: Maintain BAS Records for ATO Audits<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Take care to keep your tax records organised for five years:<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Keep your invoices, receipts, payroll documentation and confirmations of deposit.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Save copies of your digital files safely.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Have everything organised so responses to an audit from the ATO can be made promptly.<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p><span style=\"font-size:18px\">If you choose cloud storage or software with document management, it&rsquo;s easier to maintain and support ongoing BAS Compliance.<\/span><\/p>\n\n<h2 dir=\"ltr\"><strong>Lodging a BAS: What You Need to Know<\/strong><\/h2>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Filing your BAS statement is your last and most important task for BAS compliance. You have several handy ways to submit your BAS to the ATO, and each one offers its benefits:<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Method 1: Online through the ATO Business Portal<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Businesses can submit their Business Activity Statements directly through the secure ATO Business Portal.<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Fast and convenient: You can complete your application wherever you are online.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Instant confirmation: Receive an electronic receipt as soon as you drop off your tax documents<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Follow up-to-the-minute changes: See all your BAS information and payments at once<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">To sign up, you&rsquo;ll need a myGovID and either an AUSkey or ABN that&rsquo;s linked to your account.<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Method 2: By Using Accounting Software<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">With Xero, MYOB and QuickBooks, organisations can directly process their BAS through the same online platform:&nbsp;<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Seamless Integration: When both apps are connected, your financial records get updated on their own, limiting how much you need to input by hand<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Makes calculation easier: Fast BAS reports and automatic checks decrease opportunities for errors<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Time Svaing: All that&rsquo;s needed to complete your BAS is a few clicks right inside your accounting dashboard<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">See if you can use your software to file your BAS statements and make sure it&rsquo;s updated whenever new versions come out.<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Method 3: A Registered BAS Accountant or a Tax Agent for Help<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Many businesses choose to let a trained BAS accountant or registered tax agent take care of their <a href=\"https:\/\/www.aoneoutsourcing.au\/blog\/guide-to-bas-lodgement-in-australia-why-you-need-a-bas-accountant\">BAS lodgement<\/a>.<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Expertise and Accuracy: Tax experts have training on the latest tax information and what needs to be done.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Extended Deadlines: Lodging your BAS is allowed after the due date if your tax agent applies for additional time.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Avoiding Tension: Avoid serious mistakes and prevent ATO fines.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Time Efficiency: You can run your business efficiently as specialized firms handle your compliance.<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Experienced BAS accountants who specialise in your industry tend to deliver the best results, so choose them for the best experience.<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Method 4: Paper Lodgement (Discouraged)<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Using paper forms for BAS statements is allowed, but most organisations are encouraged not to do so because:&nbsp;<\/span><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">Delayed response from the systems<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">There is a larger chance that forms will be lost or not arrive on time.<\/span><\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\"><span style=\"font-size:18px\">More chance that mistakes occur<\/span><\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">The ATO recommends all businesses go online for faster and more trouble-free submission of tax information.<\/span><\/p>\n\n<h3 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Why Outsource BAS Lodgement?<\/strong><\/span><\/h3>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">When you work with a BAS accountant, your business becomes more efficient and compliant. Experts handle your business activity statement so that you don&rsquo;t risk fines and can concentrate on growing your business. Following guidance from your advisor means you&rsquo;ll benefit from better <a href=\"https:\/\/www.aoneoutsourcing.au\/blog\/why-tax-return-service-is-a-game-changer-choice-for-australian-businesses\">tax management<\/a> and control your cash flow.<\/span><\/p>\n\n<h2 dir=\"ltr\"><span style=\"font-size:24px\"><strong>Common BAS Mistakes to Avoid<\/strong><\/span><\/h2>\n\n<p dir=\"ltr\"><span style=\"font-size:18px\">Correctly making and lodging your BAS statements helps to avoid being charged penalties and avoids the need for ATO reviews. We&rsquo;ll examine the typical errors and show you how to fix them without difficulty.<\/span><\/p>\n\n<h4><strong>Mistake 1: Failing to deliver BAS on time.<\/strong><\/h4>\n\n<p dir=\"ltr\"><strong>What happens:&nbsp;<\/strong>Missing or being late with your BAS filing can lead the ATO to charge penalties and interest which increases your costs and may also influence your credit rating.<\/p>\n\n<p dir=\"ltr\"><strong>How to fix it: <\/strong>Create calendar alerts a month in advance and even better, let a registered BAS accountant take care of your BAS to ensure it is never late.<\/p>\n\n<h4 dir=\"ltr\"><strong>Mistake 2: Misreport the GST amount.<\/strong><\/h4>\n\n<p dir=\"ltr\"><strong>What happens: <\/strong>Giving ATO incorrect tax numbers can result in extra checks from them, possible changes to previously paid taxes and possible fines. This means your business will be closely watched and could interrupt how money enters your company.<\/p>\n\n<p dir=\"ltr\"><strong>How to fix it: <\/strong>Check all your GST calculations by comparing what you sell to what you buy. Let the accounting software take care of GST tracking and have a BAS professional look at your receipt before you submit.<\/p>\n\n<h4 dir=\"ltr\"><strong>Mistake 3: Trying to Claim GST Without Proof<\/strong><\/h4>\n\n<p dir=\"ltr\"><strong>What happens: <\/strong>If you use a purchase receipt without a tax invoice, you may not be allowed the credit and will likely have to compensate for it along with extra charges.<\/p>\n\n<p dir=\"ltr\"><strong>How to fix it: <\/strong>You need to have valid tax invoices from registered suppliers before you can claim GST credits. Go through your purchases often to make sure you have all the proper proof for your spending.<\/p>\n\n<h4 dir=\"ltr\"><strong>Mistake 4: Missing out on your PAYG Instalments<\/strong><\/h4>\n\n<p dir=\"ltr\"><strong>What happens: <\/strong>The ATO may send you unexpected bills and penalties if you miss PAYG instalments and pay less tax than you should.<\/p>\n\n<p dir=\"ltr\"><strong>How to fix it: <\/strong>Look over your PAYG instalment notices from the ATO and ensure you use the right figures in your BAS each quarter. You should automate your payroll reporting or better yet, have a BAS accountant handle it for you.<\/p>\n\n<h4 dir=\"ltr\"><strong>Mistake 5: Submitting a Nil BAS When GST Is Involved<\/strong><\/h4>\n\n<p dir=\"ltr\"><strong>What happens: <\/strong>Indicating on your BAS that your business did no trading during a period can prompt an audit by the ATO if you have activity records for that time.<\/p>\n\n<p dir=\"ltr\"><strong>How to fix it: <\/strong>Report every sale, purchase and tax for the time period truthfully during the audit review. Should you be unsure, it is best to check with your accounting software or consult a BAS professional before sending your return.<\/p>\n\n<h4 dir=\"ltr\"><strong>Mistake 6: Using the Wrong Accounting Method (Cash vs. Accrual)<\/strong><\/h4>\n\n<p dir=\"ltr\"><strong>What happens: <\/strong>Changing from cash to accrual accounting without correcting for the differences can lead to problems when reporting and lodging for tax purposes.<\/p>\n\n<p dir=\"ltr\"><strong>How to fix it: <\/strong>Decide on an accounting method and apply it the same way each time you do your reports. If you switch to a new method, tell the ATO and amend your records according to the update. An accountant in the BAS field can explain how it works to you.<br \/>\nWhen you know what to avoid and how to resolve the mistakes, your <a href=\"https:\/\/www.aoneoutsourcing.au\/service\/bas-accounting-services-in-australia\"><strong>BAS preperation<\/strong><\/a> will be done quickly and accurately, keeping your company&rsquo;s tax processes smooth and efficient.<\/p>\n\n<h2 dir=\"ltr\"><strong>How Aone Outsourcing Can Help?<\/strong><\/h2>\n\n<p dir=\"ltr\">At Aone Outsourcing, we understand that it can be difficult for many small and medium sized businesses to look after BAS preparation and <a href=\"https:\/\/www.aoneoutsourcing.au\/blog\/guide-to-bas-lodgement-in-australia-why-you-need-a-bas-accountant\">lodgement<\/a> on their own. For this reason, our BAS services are meant to simplify things for you and guarantee your business adheres to ATO rules.<\/p>\n\n<h3 dir=\"ltr\"><strong>Key BAS Services by Aone Outsourcing are:<\/strong><\/h3>\n\n<ol>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\">Bas Preperation and Review: We take care of preparing and reviewing your BAS to ensure all important GST, PAYG withholding and other tax numbers are correct.<\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\">Accurate GST and PAYG Reporting: Ensure your GST and PAYG calculations are correct by using our skilled BAS accountants.<\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\">On-tome BAS Lodgement: We make sure your BAS is lodged in time to avoid financial penalties and interest.<\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\">Assistance wit ATO Reviews: If an ATO review or audit happens, our experts give you the advice you need to handle everything efficiently.<\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\">Quarterly Planning and Reminders: We give you regular reminders through our software and prepare a strategy with you each quarter, so you won&rsquo;t miss any deadlines.<\/p>\n\t<\/li>\n<\/ol>\n\n<table>\n\t<tbody>\n\t\t<tr>\n\t\t\t<td>\n\t\t\t<p dir=\"ltr\"><strong>Our Client Story:<\/strong><\/p>\n\n\t\t\t<p dir=\"ltr\"><strong>&ldquo;We rely on Aone Outsourcing to take care of our BAS and they do it without difficulty. Today, I am able to concentrate on how to grow the business, not worrying about tax reports.&rdquo;<\/strong><\/p>\n\n\t\t\t<p dir=\"ltr\"><strong>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash; Sarah M., Director of a Small Business in Australia<\/strong><\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t<\/tbody>\n<\/table>\n\n<h2><span style=\"font-size:24px\"><strong>Final Thoughts!<\/strong><\/span><\/h2>\n\n<p dir=\"ltr\">Avoid stressing about your BAS and make sure you don&rsquo;t put your company in danger of facing penalties. Count on Aone Outsourcing for professional, quick and precise BAS services meeting your needs.<\/p>\n\n<p dir=\"ltr\"><strong>Want to ensure your BAS reporting with Aone Outsourcing?<\/strong><\/p>\n\n<ul>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\">Free BAS Consultation: Find out what you have to do and how we can assist.<\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\">Make an Appointment: Talk with a BAS accountant face-to-face.<\/p>\n\t<\/li>\n\t<li dir=\"ltr\">\n\t<p dir=\"ltr\">Get a Price: Receive a tailored service plan according to what your business needs.<\/p>\n\t<\/li>\n<\/ul>\n\n<p dir=\"ltr\">Contact us now and kickstart your trouble-free process of preparing and filing the required BAS each time it&rsquo;s due.<\/p>\n\n<p dir=\"ltr\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Preparing and lodging BAS statements is very important for any Australian business registered for GST. Thanks to these reports, you [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":502,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[18],"tags":[],"class_list":["post-285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bas-accounting"],"acf":[],"_links":{"self":[{"href":"https:\/\/aoneoutsourcing.au\/blog\/wp-json\/wp\/v2\/posts\/285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aoneoutsourcing.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aoneoutsourcing.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aoneoutsourcing.au\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/aoneoutsourcing.au\/blog\/wp-json\/wp\/v2\/comments?post=285"}],"version-history":[{"count":1,"href":"https:\/\/aoneoutsourcing.au\/blog\/wp-json\/wp\/v2\/posts\/285\/revisions"}],"predecessor-version":[{"id":398,"href":"https:\/\/aoneoutsourcing.au\/blog\/wp-json\/wp\/v2\/posts\/285\/revisions\/398"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aoneoutsourcing.au\/blog\/wp-json\/wp\/v2\/media\/502"}],"wp:attachment":[{"href":"https:\/\/aoneoutsourcing.au\/blog\/wp-json\/wp\/v2\/media?parent=285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aoneoutsourcing.au\/blog\/wp-json\/wp\/v2\/categories?post=285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aoneoutsourcing.au\/blog\/wp-json\/wp\/v2\/tags?post=285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}