BAS Preparation and Lodgement

A Guide for Small Business

A Business Activity Statement (BAS) is how Australian business owners report and pay several tax obligations to the ATO in a single form — most commonly goods and services tax, but also PAYG withholding, PAYG instalments, and other levies depending on your business. This guide covers the basics every small business should understand before their next bas deadline.

BAS Lodgement Options: BAS Online, Business Portal and Online Services

There are several ways to complete your bas lodgement. You can lodge BAS online through the ATO’s online services for business, via the business portal, through standard business reporting-enabled software, or on paper using the bas form mailed to you. Most Australian business owners now lodge digitally, since it’s faster and reduces the risk of errors compared to manual documents.

Do You Need a BAS Agent or Tax Agent?

You can prepare and lodge your own BAS, but many businesses choose to engage a BAS agent or tax agent to manage the process instead. A registered BAS agent is authorised by the Tax Practitioners Board to handle GST, payroll, and other BAS-related tax services on your behalf, while a tax agent or broader tax professional typically manages your wider accounting and tax obligations, including your annual return.

Engaging a professional accountant or registered agent also gives you access to lodgement extensions that aren’t available if you lodge yourself, and reduces your exposure to penalties and interest if something is reported incorrectly.

Choosing the Right Accounting Software

Good accounting software makes BAS reporting far more manageable. Cloud-based software can automatically categorise transactions, reconcile against your bank statements, and generate most of the figures you need for your BAS well before the deadline — reducing the manual work involved in pulling together financial statements and expense records each quarter.

BAS Preparation for Australian Business Owners

Solid BAS preparation starts with good habits throughout the quarter, not a scramble in the final week. We help Australian business owners stay organised by reviewing transactions, expenses, and bookkeeping records regularly, so your BAS reflects accurate, up-to-date figures rather than last-minute estimates.

A few practical GST tips we share with clients:

• Keep bank statements and receipts organised throughout the quarter, not just before the bas deadline
• Check the ATO website for current rates and thresholds before finalising your figures
• Reconcile payroll and withholding amounts before lodging
• Review financial statements for anything that looks unusual before submitting

How to Lodge Your BAS: A Step-by-Step Guide

Here’s a simple step guide to the lodgement process:

1. Gather all relevant documents, including invoices, receipts, and bank statements
2. Reconcile your transactions in your accounting software
3. Complete the bas form, checking GST, withholding, and any PAYG instalments
4. Review figures against your financial statements for accuracy
5. Lodge via online services, the business portal, or through your registered agent

Completing the BAS Form and Bookkeeping Basics

Accurate bookkeeping throughout the quarter makes completing the bas form far simpler. Every transaction should be recorded and categorised correctly as it happens, so your obligations are clear well before lodgement day, rather than being reconstructed under time pressure.

Leading BAS Accountants

Principal, Kennedy Weldemariam, is one of the most successful business personalities in Melbourne’s West. His highly skilled team, including registered BAS agent and tax agent professionals, tailors a solution to your individual needs and circumstances.

Contact us here to arrange a consultation for BAS preparation and lodgement for your business.