Business owners, especially the ones who have started new always face an issue of lodging their BAS. We have received number of queries regarding this.
To make it easy for our clients, we have compiled all the important information related to the topic from ATO’s website.
According to ATO’s portal, you have several options for lodging your business activity statements (BAS) and reporting your goods and services tax (GST) to us.
Most businesses that lodge their own BAS choose an online option. A penalty may apply if you do not lodge on time. Even if you can’t pay, lodge on time to avoid this extra cost.
Lodging your quarterly BAS online means you may be eligible for a concession, giving you an extra two weeks to lodge and pay.
Each of the following online options will step you through the process as you go:
- Online services for individuals and sole traders (accessed through myGov) – allows you to manage your tax and super in one place.
- Business Portal – a secure ATO website used to manage your business tax affairs online.
- SBR-enabled software
- – allows secure online lodgement directly from financial, accounting or payroll software, and often integrated with business software that’s tailored to specific industries.
- Two week lodgement concession – terms and conditions
- Cloud software authentication and authorisation
If you have a registered tax or BAS agent they can lodge, vary, and pay on your behalf through their preferred electronic channel.
Lodge through your tax or BAS agent
When you use an agent:
- they can view activity statements sent to your myGov Inbox.
- you can still access your activity statement through the Business Portal or myGov even if your agent is managing them on your behalf.
Nothing to report (‘NIL’ BAS)
You can only use this service if you have nothing to report for the period and need to lodge your BAS as ‘NIL’.
You can lodge your ‘NIL’ BAS:
- by phone on 13 72 26
- this is an automated service and you can call anytime (24 hours a day, seven days a week)
- you will need to have your activity statement document identification number (DIN) handy
Lodge by mail
Mail your original, completed BAS, using the pre-addressed envelope provided in your BAS package. If you make a mistake on your paper BAS, you can use white-out to make changes. If you misplace the pre-addressed envelope, send your BAS to:
Australian Taxation Office
Locked Bag 1936
ALBURY NSW 2640
If you have lost or have not received your paper BAS, you can get a copy by phoning ATO on 13 28 66.
Note: Mail is not an option if you are lodging your BAS using an online channel.
The method you use to lodge your BAS will determine how you receive statements in future. For example, if you lodge through the Business Portal, your next statement will be available in the Business Portal.
ATO will notify you by an email when your activity statements are available, so make sure your contact details are up to date.
For any tax related queries, reach us: 29/15-17 Kildare Road, Blacktown NSW 2148, Australia.
Call 03 9706 9313, or book online at www.kpgtacation.com.au and your tax agent will be in touch to help.