What’s Going On
The Australian Taxation Office (ATO) has reminded small businesses that the time to lodge your next Business Activity Statement (BAS) is approaching. The BAS is how you report things like GST, PAYG withholding and instalments, and other business tax obligations.
(Source: Australian Taxation Office)
Why This Matters for You
If you delay lodging your BAS or are not fully prepared, you could face:
- Additional costs such as interest or late lodgement penalties.
- Missed opportunities to claim credits or remain compliant.
- Greater stress and rushed corrections at the last minute.
Being prepared ahead of the deadline helps ensure everything runs smoothly, you pay what you owe (and no more), and you avoid compliance issues.
What You Should Do (and How We Can Help)
At D&B Accountants, we help you stay organised and compliant with every BAS cycle.
- Gather your records early. This includes GST collected and paid, PAYG withholding, any instalments, and all invoices and receipts.
- Review your business data. We confirm whether you lodge monthly, quarterly, or annually and ensure your credits and obligations are correct.
- Lodge on time. We can lodge your BAS for you or guide you through the process. If anything needs correction or clarification, we’ll handle it promptly.
- Plan for payments. We help you manage your cash flow so you’re ready when your BAS payment is due.
Final Thought
The ATO’s reminder that “It’s almost BAS time” is your cue to act early. At D&B Accountants, we’re here to make your BAS lodgement process smooth, accurate, and stress free. By preparing early and reviewing carefully, you’ll avoid penalties, maintain compliance, and have more time to focus on your business.
If you need help reviewing your records or preparing your BAS, contact the D&B Accountants team today.