Any business or entity in Australia registered for Goods and Services Tax (GST) must lodge a Business Activity Statement (BAS) to report and pay GST, PAYG withholding, and PAYG installments. It is generally required for businesses with an annual turnover of $75,000 or more ($150,000 for non-profits), or those who voluntarily registered.
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.
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.
If you're registered for GST and your annual GST turnover exceeds $75,000 ($150,000 for non-profit organizations), you're obligated to submit a BAS. Businesses with turnovers below these thresholds that have voluntarily registered for GST must also lodge a BAS, though they have different reporting options.
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.
What is the Minimum Turnover Limit for GST Registration? 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.
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).
Who needs to lodge a BAS? 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.
'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.
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.
If you turnover more than $75,000, you will be required to submit a BAS statement. Sole traders must pay BAS to the ATO to report and pay their GST, PAYG instalments, and other tax obligations.
Taxable Supplies
As a small business owner, you are not obliged to hire an accountant as long as you fulfil your statutory requirements with HMRC and Companies House. However, an accountant can add value to your business from day one, providing time saving services and professional advice to support your long term goals.
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.
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.
No, not all sole traders are required to lodge a BAS. Only when you are registered for GST does the need become necessary. If you have an ABN but are not GST-registered, you are not required to complete a BAS unless other reporting obligations apply, such as PAYG instalments.
When do I need to lodge a BAS? The ATO lists the following cycles for BAS lodgement: Quarterly – if the GST turnover of your business is less than $20 million and it hasn't been specified that you must report monthly. Monthly – if your GST turnover is $20 million or more.
The typical service cost of BAS agents ranges between $50 $200. Note that the final cost depends on your business needs. BAS agent fees are often structured as fixed prices per lodgment or charged hourly. Some agents also bundle their services, which include monthly bookkeeping, GST advice, and end-of-year summaries.
If you earned $18,200 or less in the past financial year AND you had no tax withheld from that income, you might not be required to lodge a tax return. But be careful: This does not mean you can ignore your taxes. Everyone needs to either lodge a tax return or lodge a “non lodgement advice” form.
PAYG withholding is tax you hold back from employee wages. BAS is the report you lodge to show these amounts to the ATO. Each one serves a different purpose, but they work together every time you lodge your activity statement.
Short answer. If you're registered for GST, you must charge and collect GST. Sole traders and businesses who estimate they'll make $75,000 or more in business income in any given 12-month period have to register for GST.
Certain goods and services are exempt from GST due to their essential nature. This exemption applies based on the type of supply, not the supplier. Example: Healthcare services, educational services, and public utility services (e.g., water supply) are exempt from GST.
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.