Business Activity Statement (BAS) – BBW Business Services

Business Activity Statement (BAS) – BBW Business Services

What is Business Activity Statement?

All businesses need to submit a taxation obligation form to the Australia Government Taxation Office. This is done using a form called Business Activity Statement (BAS). This includes the following taxations

a)      Pay As You Go Withholding (PAYGW)

b)      Pay As You Go Instalments (PAYGI)

c)       Fringe Benefits Tax (FBT)

d)      Wine Equalisation Tax (WET)

e)      Luxury Car Tax (LCT)

Individuals who need to pay quarterly PAYG instalments also use Activity Statements.

Preparing Business Activity Statement

Below is an example of a paper quarterly activity statement showing the most common reporting requirements. Whether you use paper or the Business Portal - the activity statement will contain all of your reporting requirements.

Front of the activity Statement

    Back of the activity statement

Points to be remembered while filling the Business Activity Statement.

a)      Use a black pen and print clearly

b)      complete the labels where you have something to report (leave other labels blank)

c)       round down to whole-dollar amounts (don’t include cents)

d)      don’t report negative figures or use symbols such as +, -, /, $

e)      input ‘0’ (do not use NIL) if reporting a zero amount

f)       transfer the amount to the summary section at the end of each solution

g)      calculate the amount you have to pay or expect to receive as a refund

h)      make your payment by the due date

i)        return your signed paper or electronic form, even if nothing to report or payment has already been made (unless otherwise directed on the form)

Due date for filling and payment of Business Activity Statement

Lodging and paying due date is pre printed at the top right corner of the Business Activity Statement

Quarter	Due date
1 - July, August and September	28 October
2 - October, November and December	28 February
3 - January, February and March	28 April
4 - April, May and June	28 July

Depending your business if you are suppose to report and pay monthly, the due date is normally 21^st of the following month. If the due date falls on a weekend or public holiday you can lodge your form and make payment due on the next business day.

Steps to lodge the business activity statement (BAS)

a)     online using the Business Portal, Standard Business Reporting (SBR) or Electronic Commerce Interface (ECI)

b)    by phone, if you do not have anything to report to any label

c)     by mail

d)    by a registered tax agent or BAS agent or BBW Business Services

You may get extra time to lodge and pay your quarterly activity statements if filed electronically via the Business Portal, Standard Business Reporting or a registered tax agent or BAS agent.

Ways to make a payment

There are a number of ways to make a payment, both in Australia and overseas:

a)     BPAY

b)    Credit card (conditions apply)

c)     Direct credit

d)    Direct debit

e)     Mail

f)     Australia Post Outlets

g)    From overseas – pay by BPAY, Credit Card, Direct Credit or Mail.

For more information visit connect with us at http://www.bbw-services.com or call us at +61 7 3368 9950

Information source: https://www.ato.gov.au/Business/Activity-statements/