Updated: March 2026

Depending on your business size and registration, you may need to lodge a Business Activity Statement (BAS) monthly, quarterly, or annually. Your BAS reports your Goods and Services Tax (GST), PAYG withholding, and other tax obligations to the ATO.

To ensure we lodge your BAS accurately and on time, please prepare the following records for the relevant reporting period:

1. Software & Bank Reconciliation

• Accounting Software: Ensure your Xero, MYOB, or QuickBooks file is fully reconciled up to the last day of the BAS period.
• Bank Statements: Copies of bank statements for all business accounts, showing the exact balance on the last day of the reporting period.

2. Sales & Income

• Total Sales: A record of all business income received during the period.
• GST-Free Income: Details of any sales that did not include GST (e.g., export sales, basic food items, certain health services).
• Other Income: Records of any government grants, insurance payouts, or sale of business assets.

3. Purchases & Expenses

• Tax Invoices: You must hold a valid Tax Invoice for any business expense over $82.50 (including GST) to claim the GST credit.
• Asset Purchases: Copies of invoices for any large purchases (e.g., motor vehicles, heavy equipment) bought during the period.
• GST-Free Expenses: Identification of expenses that do not have GST (e.g., bank fees, interest, basic postage).

4. Payroll & PAYG Withholding

If you employ staff, you must report the tax you have withheld from their wages.

• Gross Wages: The total gross wages paid to employees during the period.
• PAYG Withholding: The total amount of tax withheld from those wages.
• STP Compliance: Confirmation that your Single Touch Payroll (STP) reporting is up to date for all pay runs.

5. Other Tax Obligations

• PAYG Instalments: If you prepay your income tax via instalments, ensure you have the ATO instalment notice.
• Fuel Tax Credits: Records of eligible fuel purchases and the business use percentage.
• FBT or Luxury Car Tax: Details of any Fringe Benefits Tax instalments or LCT obligations.

Notice: If you have any missing invoices or are unsure how to code a specific transaction for GST, please leave it unreconciled and notify our team so we can assist you.

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