Business Activity Statements (BAS)
Monthly activity statements are due by the 21st.
The due date to lodge and pay your monthly BAS is the 21st day of the month following the end of the taxable period. For example, a July monthly BAS is due on 21 August.
Checking the figures at each of the BAS reporting labels means your statements are more likely to be accurate and less likely to need GST adjustments at the end of the financial year. This results in you having a more accurate picture of your liabilities throughout the year and being able to plan accordingly.
Any questions? Talk to us. We can help you set up the processes to make this area of your business easy – and you can focus on growing your business.
Quarterly Activity Statements:
Quarter 1: Due 28 October
July, August & September
Quarter 2: Due 28 February
October, November, December
Quarter 3: Due 28 April
January, February, March
Quarter 4: Due 28 July
April, May, June
Are you ready for lodgement??
Use the following checklist to make sure you are ready for lodgement day:
- Have you allocated all bank transactions to the correct accounts?
- Have you verified that the bank balance listed in your accounting software matches the balance in your bank account?
- Do you have tax invoices and receipts for all business-related transactions?
- Have you checked the GST tax codes for all transactions?
- Have you checked tricky transactions like agency arrangements, insurance or overseas purchases for GST tax code accuracy?
- Have you got paperwork for asset purchases or new finance arrangements?
- If you have to report PAYG withholding for employees, you also need to check that your payroll categories and tax calculations are correct for the quarter, (or last month for employers who lodge a monthly IAS)
