What Do I Need to Report on a BAS? Here’s What Every Aussie Business Should Know

 If you’re registered for GST, lodging a Business Activity Statement (BAS) is part of running your business. But let’s be honest, BAS can feel confusing if you’re not exactly sure what needs to go in it. 

Your BAS tells the ATO how much tax you’ve collected and what you need to pay. It helps you stay on top of GST, employee tax, and other reporting requirements that may apply to your business. 

Submitting the wrong information or missing key details can lead to penalties and unnecessary stress. So, let’s walk through what you need to report, in a way that’s simple and clear. 

What Goes Into a BAS? 

Here are the main things most businesses need to include when completing their BAS. 

1. GST or Goods and Services Tax 

This is the most common item you’ll report. You need to tell the ATO: 

• How much GST you collected from your customers 

• How much GST you paid on business expenses 

This will determine if you need to pay the ATO or if you’re getting a refund. Keep your records organised so it’s easier to complete these sections accurately. 

2. PAYG Withholding 

If you have employees, you must report how much tax you withheld from their wages. This confirms to the ATO that you’re meeting your obligations as an employer and handling your team’s taxes properly. 

3. PAYG Instalments 

If the ATO has asked you to make early payments towards your income tax, you’ll report and pay these amounts through your BAS. This helps spread out your tax payments during the year. 

4. Other Taxes or Credits 

Depending on your business, you may also need to report other items, such as: 

• Fuel tax credits 

• Fringe benefits tax instalments 

• Wine equalisation tax or luxury car tax 

The ATO will let you know if any of these apply to your BAS. 

Helpful Tips for an Easier BAS 

• Use accounting software that tracks GST and matches the right tax codes 

• Reconcile your accounts every month so things stay clean and accurate 

• Always check your BAS form to make sure nothing new has been added 

• Keep detailed records to support the figures you report 

• Ask for help if you’re not sure. A registered BAS or tax agent can make the whole process easier 

What to Avoid 

• Guessing amounts without proper records 

• Mixing up GST you collect with GST you pay 

• Assuming superannuation is part of BAS (it’s not, but it is a common mistake) 

• Leaving things to the last minute 

Need help figuring out what to report on your BAS? 

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