Generally, you do not need to lodge a Business Activity Statement (BAS) if you are not registered for GST, provided your annual turnover is under $75,000 ($150,000 for non-profits). BAS is primarily used to report GST, so if you are not registered, this obligation does not apply. However, you may still need to lodge a BAS if you have other obligations, such as PAYG withholding for employees.
If you're not registered for GST, your invoices should not include the words 'tax invoice' – you must issue standard invoices.
If you don't register for GST and are required to, you may have to pay GST on sales made since the date you were required to register. This could happen even if you didn't include GST in the price of those sales. You may also have to pay penalties and interest.
If you are a business registered for GST, you need to lodge a business activity statement (BAS). Your BAS will help you report and pay your: goods and services tax (GST) pay as you go (PAYG) instalments.
BAS lodgement is a requirement for any business that is registered for GST. Most small businesses registered for GST will lodge quarterly BAS. Compulsory GST registration is required for any business that has a gross turnover that equals or exceeds $75,000.
You don't need to lodge a BAS if your turnover is less than $75,000 and you're not registered for GST. You should lodge annually if your turnover is less than $75,000, but you voluntarily register for GST. You should lodge quarterly if your annual GST turnover is less than $20 million.
'Failure to lodge' penalties are calculated based on the size of the entity and each 28-day period the tax return or BAS statement is overdue. 'Small Entities' which have a turnover of less than 1 million are issued one penalty unit per period overdue which is capped at a maximum of five penalty units being $1,050.
BAS is compulsory if you're GST registered. It covers GST, PAYG, and sometimes FBT or industry extras. Lodge quarterly (or monthly if required). Choose cash vs accrual carefully—it impacts cash flow.
You have to start charging GST/HST on the supply that made you exceed $30,000. You exceed the $30,000 threshold 1 over the previous four (or fewer) consecutive calendar quarters (but not in a single calendar quarter).
Businesses are required to register for GST and pay tax on their annual turnover if their annual revenue exceeds Rs. 40 lakhs in the case of goods supplied and Rs. 20 lakhs for the supply of services.
If your GST turnover is below the $75,000 threshold, you may choose to register. But if you do, regardless of your turnover, you must: include GST in the price of most goods and services you sell. claim GST credits for most business purchases you make.
If you don't register before your sales hit $30,000, the CRA may require you to remit GST/HST that you should have charged out of your own pocket, even if you didn't collect it from customers.
The main benefit of being GST registered is that you can claim back GST on your business expenses. If you pay more in GST when buying supplies for your business than you charge your clients, you are eligible for a GST refund.
An unregistered person may supply goods on ordinary commercial invoices and he cannot issue tax invoice.
According to the current GST regulations, businesses that have an annual turnover below the prescribed threshold can issue invoices without adding GST.
To figure out how much GST was included in the price you have to divide the price by 11 ($110/11=$10); To work out the price without GST you have to divide the amount by 1.1 ($110/1.1=$100)
To qualify for the GST/HST credit, your adjusted net family income must be below a certain threshold, which for the 2024 tax year ranges from $56,181 to $74,201, depending on your marital status and how many children you have.
In India, businesses with annual turnover over Rs. 40 lakhs (Rs. 20 lakhs in special category states) must register for GST.
If your small business earns more than $30,000 in a quarter or more than $30,000 in a year, you must collect Harmonized Sales Tax (HST) or Goods and Services Tax (GST).
Who needs to lodge a BAS? Whether your business needs to lodge a BAS depends on your tax obligations. If your annual turnover is $75,000 AUD or more ($150,000 AUD or more for nonprofits), the ATO requires you to register for GST.
Only those who register for GST are eligible to submit BAS. Plus, you only register for GST once—even if you're operating multiple businesses. However, the good news is that not everyone has to register for GST unless: Your business is generating a minimum gross income of over $75,000 a year.
The due date will depend on whether your business' reporting is quarterly or monthly, although most small businesses only have to file a BAS every quarter.
The biggest tax mistakes people make include filing late, math errors, incorrect personal info (like Social Security numbers), forgetting deductions/credits (like EITC), misreporting income, not signing forms, and making errors with bank details for direct deposit, all leading to delays, penalties, or missed savings, with using tax software or professionals helping avoid these common pitfalls.
At a glance
The minimum income amount to file taxes depends on your filing status and age. For 2025, the minimum income for Single filing status for filers under age 65 is $15,750 . If your income is below that threshold, you generally do not need to file a federal tax return.