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BAS Due Dates 2024 for Lodging and Paying BAS

 

BAS Lodgment and Payment

You will have several options for lodging your business activity statement (BAS). Filing electronically is easy, quick and secure. Most businesses prepare BAS on their own and file online. You can also get help from a registered tax or BAS agent to prepare and file BAS. You need to pay BAS in full to avoid paying interest. If the due date is on a public holiday or weekend, you will have until the next business day to file and pay your BAS. You must contact the ATO if you can’t file and pay in full and on time. In case of a natural disaster, you may qualify to get more time to file and pay your BAS.

GST Reporting Cycles

Your GST reporting and payment cycle will be one of the written below:

  • Quarterly: If your GST turnover is below $20 million – and the ATO has not told you that you need to report monthly.
  • Monthly: If your GST turnover is $20m or above – or you report GST monthly.
  • Annually: If you are voluntarily registered for Goods and Services Tax and your GST turnover is under $75,000.

When is BAS Due Quarterly?

If your GST turnover is below $20m and the ATO hasn’t told you to report GST monthly, you are allowed to report and pay GST on a quarterly basis. From the following table, you will see when is the next BAS due:

QuarterDue date
1. July, August and September28 October
2. October, November and December28 February
3. January, February and March28 April
4. April, May and June28 July

A later due date for lodgment and payment does not apply for quarter 2, as the current due date already accounts for a one-month extension.

Monthly Reporting

The due date for BAS lodgment and payment on a monthly basis is the 21st day of the month after the end of the taxable period. For instance, a July monthly BAS is due on the 21st of August. If your GST turnover is $20m or over, you need to report and pay GST monthly and file your BAS online. Schools and related bodies are granted a deferral of their December BAS. These will be issued with a deferred due date of 21st February. With small business bookkeeping services, you will have access to BAS statements. BAS agent can use the records to lodge and pay BAS on your behalf.

Annual Reporting

If you are registered for GST voluntarily and your turnover is under $75,000, you can choose to report and pay GST annually. To file and pay your annual GST return, the due date is 31 October. If you don’t need to file a tax return, the due date will be 28 February after the annual tax period. If you receive support from a tax or BAS agent, different dates may apply.

Can You Change Your Reporting and Payment Cycle?

Based on your situation, you may be able to change your reporting and payment cycle. You have to get in touch with the ATO if you want to change your lodgment and payment cycle. To change how often you file and pay early in the lodgment period, you can start the new cycle straight away. Otherwise, the new cycle will start from the beginning of the next quarter or year. If you have changed your cycle within the last 12 months, you may not be eligible to change your cycle.



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