Lodging your last BAS for this financial year?

Your last quarterly business activity statement (BAS) for this financial year is due on 28 July.

You should lodge your BAS before you lodge your tax return. This will make lodging your tax return easier, as it will help with reconciling your figures.

Follow these tips to help you complete your BAS this quarter:

• Lodge online via ATO online services or Standard Business Reporting (SBR)-enabled software. It’s quick, easy and secure and you may qualify for an extra 2 weeks to lodge and pay.
• Pay your BAS with BPAY or a credit or debit card. You can also pay securely online using our online services.
• If you have nothing to report, you still need to lodge your BAS as ‘nil’.
• If you have ceased trading, you need to advise your registered tax professional, or contact us directly, to assist you with finalising your tax obligations, which may include lodging overdue forms.

If you have any overdue income tax returns, BAS or fringe benefits tax returns that were due between 1 December 2019 and 28 February 2022, you may be eligible for the small business lodgment penalty amnesty program. This is an opportunity to get back on track with your lodgments, as any failure to lodge penalty that applies to the late lodgment will be remitted.

If you’re unable to lodge or pay on time, engage with us early to discuss your options.

Remember, you can lodge your BAS through a registered tax or BAS agent.

Source: ATO