How to Prepare and Lodge Your BAS Online With the ATO

A Business Activity Statement (BAS) is a form issued by the Australian Taxation Office (ATO) that businesses registered for Goods and Services Tax (GST) must submit. This statement allows businesses to report and pay various tax obligations, ensuring compliance with Australian tax laws. The BAS encompasses taxes such as GST, Pay As You Go (PAYG) withholding, PAYG instalments, Fringe Benefits Tax (FBT), Luxury Car Tax (LCT), and Wine Equalisation Tax (WET).

Lodging your BAS online has become the primary method for many businesses due to its convenience and efficiency. This digital approach offers benefits like flexibility to lodge at any time, potential for extended lodgement periods for quarterly filers, and faster processing of refunds. Online lodgement also helps in tracking financial positions and simplifying year-end tax reporting.

Preparing for Online Lodgement

Before initiating online BAS lodgement, businesses need to complete several preparatory steps, including establishing digital access and compiling necessary financial data. Digital identity is important for accessing ATO online services, primarily through MyGovID. MyGovID is a secure digital identity app that verifies your identity for government online services.

To use MyGovID for business interactions, it must be linked to your business’s Australian Business Number (ABN) via the Relationship Authorisation Manager (RAM). This process involves downloading the MyGovID app, verifying identity documents, and then linking your ABN in RAM. RAM allows businesses to manage who can act on their behalf when dealing with government agencies online.

Accurate compilation of financial data is another foundational step before lodgement. Businesses must gather comprehensive records detailing total sales and income for the reporting period. This includes all sales.

GST figures require a breakdown of GST collected from sales and GST paid on business purchases. For businesses with employees, PAYG withholding amounts must be calculated based on the tax withheld from their wages. If applicable, PAYG instalment amounts, which are prepayments of income tax, are determined. Other tax types such as FBT, LCT, or WET may also require reporting. Maintaining organized and accurate records throughout the reporting period is fundamental, as it streamlines the data gathering process and supports accurate BAS reporting.

Lodging Through ATO Online Services

Once all preparatory steps are complete, lodging the Business Activity Statement through the ATO’s online services becomes a procedural task. The first step involves logging into the ATO’s online services for business, which is accessed using your MyGovID. This secure portal serves as the central hub for managing your business’s tax affairs online.

Upon successful login, you will navigate to the section where your activity statements are located. The ATO typically makes a tailored BAS form available for each registered business entity before the end of each reporting period, which may even be pre-filled with some information. Identifying the correct BAS for the current reporting period is important before proceeding.

The online form requires careful data entry into specific fields. You will input your total sales and income figures, followed by the detailed GST amounts, distinguishing between GST collected on sales and GST paid on purchases. If your business has employees, you will enter the total PAYG withholding amounts that have been deducted from their wages. Any applicable PAYG instalment figures, which are pre-assessed income tax payments, are also entered in their designated sections.

Should your business have obligations related to other taxes like FBT, LCT, or WET, dedicated sections on the BAS form will require the entry of these figures. It is important to review all entered data for accuracy before final submission. This review process helps prevent errors that could lead to penalties or delays. After verifying all information, a digital declaration is required to confirm the accuracy and completeness of the statement. The final step is to submit the BAS online, which transmits the reported information directly to the ATO.

Post-Lodgement Actions

After successfully lodging your Business Activity Statement online, several important actions are necessary to complete the reporting cycle and ensure ongoing compliance. The ATO online services will typically provide an immediate confirmation message or a receipt number, serving as proof of successful submission. Save this confirmation for your records.

If your BAS indicates a payment is due to the ATO, arranging this payment by the specified due date is important. Common payment options include BPAY, direct debit through the ATO portal, or credit/debit card payments. Ensuring timely payment helps avoid potential penalties for late remittance.

Maintaining thorough records is a continuous obligation. Businesses are required to retain copies of the lodged BAS and all supporting financial documentation, such as invoices and receipts, for a minimum of five years. The ATO online portal allows you to download or save a copy of your lodged BAS for your records.

While online lodgement aims for accuracy, unforeseen errors can occasionally occur. If a mistake is discovered after lodgement, the ATO provides a process for amending a lodged BAS. This typically involves accessing the previously submitted statement through the online portal and initiating a revision.