BAS Agent Services Perth

All commercial businesses and enterprises (including not-for-profit organisations) that are registered for GST in Australia must complete their business activity statement (BAS). Businesses that turnover less than $20 million each year are required to submit a business activity statement each quarter. Larger organisations that turn over more than $20-million must submit their business activity statement’s monthly.

Failure to lodge a BAS statement can result in a “failure to lodge on time” penalty that is applied by the ATO. For small businesses, the “failure to lodge on time” penalty for each BAS statement can be $900. While for larger businesses, “failure to lodge on time” can result in a $4,500 penalty for each instance (month) that is missed.

Whether you are a small or large business, lodging your BAS on-time and correctly is an essential step in remaining compliant with the ATO.