A Business Activity Statement (BAS) is a form that businesses in Australia are required to submit to the Australian Taxation Office (ATO) on a regular basis
The purpose of a BAS is to report and pay various taxes, such as
the Goods and Services Tax (GST),
Pay As You Go (PAYG) withholding tax, and the
Wine Equalisation Tax (WET).
As a psychologist you'll need to do a BAS statement if you are registered for GST. If you have employees you need to put tax aside on their behalf each time they get paid. This is the Pay As You Go (PAYG) withholding tax.
It is very, very unlikely that you will need to pay the Wine Equalisation Tax (WET) which is a wholesale tax on wine that's sold in Australia!
Businesses are required to submit a BAS to the ATO on a regular basis, typically on a quarterly basis, however, in some circumstances a business may be required (or voluntarily elect) to complete their Business Activity Statements on a monthly basis.
The due date for submitting a BAS depends on the type of business and the taxes being reported.
It also includes the reporting of other taxes such as luxury car tax, fuel tax credits and other taxes that may apply.
Businesses are required to keep records of the transactions used to complete the BAS, such as invoices and receipts, for five years.
Businesses can lodge their BAS electronically using the ATO's online services.
Failing to lodge a BAS or not paying the taxes reported on a BAS can result in penalties and fines imposed by the ATO.
Quarter | Due Date |
| 28 October |
2. October, November & December | 28 February |
3. January, February & March | 28 April |
4. April, May & June | 28 July |
