How to prepare your BAS
Updated: May 20, 2020
If you need to complete a BAS, the ATO will send it to you when it is time for you to lodge. The fields you need to complete in your BAS will depend on:
your business registrations
whether you’re completing a monthly or quarterly BAS.
Tips for getting your BAS right:
reconcile the BAS figures with your records.
check your purchases and sales are reported in the correct period.
only complete the sections that apply to you.
Read BAS and GST Tips on the ATO website. Goods and services tax (GST) reporting The reason most businesses need to lodge a BAS is to report and pay GST. Here are some tips to make it easier for you to report GST in your BAS:
Keep a record of your sales and purchases. To claim GST credits in your BAS, you will need to keep tax invoices for all your business purchases. Find out more about record keeping.
Work out if the goods or services you sell are subject to GST. If they are, GST is included in the price you charge and you should provide your customers with a tax invoice.
Put aside any GST collected so you can pay it when it's due. Many financial institutions offer GST accounts to businesses for this purpose.
You may receive a quarterly GST or Pay as you go (PAYG) instalment notice (or both) instead of a BAS, if you:
report and pay your GST or Pay as you go (PAYG) instalments (or both) quarterly
use the instalment amounts advised by the ATO, and
have no other reporting requirements.
Reporting other fields in your BAS Visit the ATO website for help with completing other fields in your BAS:
pay as you go withholding (PAYGW) – if you have employees
If you have nothing to report in your BAS (a nil activity statement) you can use the ATO’s automated phone service 13 72 26 (available 24 hours a day, seven days a week) to lodge your BAS. If you prefer, as a registered BAS agent we are happy to help you to prepare and lodge your BAS for you.