What is BAS (Business Activity Statement)?
Finance & accounting. A plain-English definition for Australian business owners.
The BAS is the periodic statement Australian businesses lodge with the ATO reporting GST collected, GST paid, PAYG withholding, PAYG instalments, and other tax obligations.
Most SMEs lodge quarterly; larger businesses lodge monthly. The BAS is due 28 days after the end of the relevant period (longer with a registered BAS agent). A registered BAS agent must hold current TPB registration, professional indemnity insurance, and meet ongoing CPE requirements. Late or incorrect BAS lodgements attract general interest charges and potential penalties.
In a connected back office this sits with the Finance hub, where Valont runs bookkeeping, managed payroll and bas & tax compliance for Australian SMEs as one team. The full definition set is on the glossary.
Talk to an Advisor
General information, not advice. For how this applies to your business, talk it through with a Trusted Advisor or start with the Business Health Check.