Businesses that are registered for GST are required to lodge a business activity statement (BAS). These assist in the reporting and payment of:
- Goods and services tax (GST)
- Pay as you go (PAYG) instalments
- PAYG withholding tax
- Other tax obligations
ATO will automatically send businesses who are registered for an ABN and GST a BAS when it is due for lodgement.
Businesses are given various options to lodge their BAS:
- Online services for individuals and sole traders – which may be accessed through myGov
- Business Portal – which is a secure website created by the ATO to assist businesses in managing their tax online
- SBR-enabled software – which allows access to lodgement from different financial, accounting and payroll software and can be integrated to industry-specific business software.