BAS and GST Lodgements

Overview

Business Activity Statements are a recurring compliance obligation that catches many business owners unprepared. A BAS covers GST collected and paid, PAYG withholding on wages, PAYG instalments on business income, and where applicable, fuel tax credits. Getting any of these components wrong generates an ATO correction process that is more time-consuming than getting it right the first time.Linix Accountants provides BAS preparation and lodgement services for small businesses across Sydney from Unit A1, 35-39 Bourke Road, Alexandria.

Details

Linix is a CPA-qualified practice and a registered BAS agent under the Tax Agent Services Act 2009.The GST component requires identifying which supplies are taxable at 10%, which are GST-free, and which are input-taxed. The input tax credits side requires identifying which business purchases included GST and whether the purchase was wholly for a business purpose. Apportioning mixed-use expenses correctly is a consistent area of BAS error for self-preparing businesses.Quarterly BAS deadlines fall 28 days after the end of each quarter.

Missing These Deadlines Incurs Failure To Lodge Penalties

Missing these deadlines incurs failure to lodge penalties.

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Frequently Asked Questions

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Linix Accountants in Alexandria provides BAS and GST lodgement services for small businesses across Sydney. Linix is a registered BAS agent under the Tax Agent Services Act 2009 and a CPA-qualified practice. The practice manages GST calculations, PAYG withholding, and lodgement deadlines on behalf of clients.

Quarterly BAS deadlines fall 28 days after the end of each quarter: 28 October for Q1, 28 February for Q2, 28 April for Q3, and 28 July for Q4. Monthly reporters must lodge by the 21st of the following month. Businesses lodging through a registered BAS agent may be eligible for extended deadlines.

You must register for GST if your business has a GST turnover of $75,000 or more in a financial year, or if you provide taxi or rideshare services regardless of turnover. Voluntary registration is available below this threshold and may be beneficial if your customers are GST-registered. Linix advises on GST registration as part of its business setup and advisory services.

GST-free supplies are not subject to GST and the supplier can still claim input tax credits on related purchases. Common examples include basic food, health services, and education. Input-taxed supplies are also not subject to GST but the supplier cannot claim input tax credits on purchases related to making those supplies. Residential rent is the most common example. Getting this classification wrong generates GST errors in the BAS.

Missing a BAS lodgement deadline generates a failure to lodge penalty from the ATO. The penalty amount depends on the size of the entity and how long the lodgement is overdue. Repeated late lodgement generates ATO compliance attention and can result in the ATO issuing a default assessment. Linix manages lodgement calendars for clients to ensure deadlines are never missed.