Tax deadlines arrive quickly when you run a business. Miss one, and penalties follow. Many owners also feel unsure about what they must lodge and when. This guide to tax services for small business explains how to lodge a BAS, outlines your other key tax obligations and shows how proactive planning removes the stress at tax time.
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Small Business Tax at a Glance
| Question | Short Answer |
|---|---|
| How often do I lodge a BAS? | Most small businesses lodge quarterly. Some lodge monthly. |
| When is a quarterly BAS due? | 28 October, 28 February, 28 April and 28 July. |
| When is a monthly BAS due? | The 21st of the following month. |
| When must I register for GST? | Once your turnover reaches $75,000 a year. |
| What GST rate do I charge? | 10% on most sales. |
| What are PAYG instalments? | Prepayments of your expected income tax, usually paid with your BAS. |
| When is STP finalisation due? | 14 July each year. |
| What if I lodge late? | The ATO may charge a failure to lodge penalty plus interest. |
| Can an agent give me more time? | Yes. Registered agents often receive extended lodgement dates. |
What Tax Obligations Do Small Businesses Face?
Australian small businesses handle several tax obligations at once. Your exact list depends on your structure, turnover and staff numbers. Most businesses deal with these items:
- BAS and GST: You report and pay GST, and often other taxes, on your Business Activity Statement.
- PAYG withholding: You withhold tax from employee wages and send it to the ATO.
- PAYG instalments: You pay part of your expected income tax during the year.
- Business tax return: You lodge a return that reports your annual income and deductions.
- Super: You pay superannuation for eligible employees.
Each obligation has its own rules and deadlines. Therefore, a clear calendar protects you from late fees.
How to Lodge a BAS
A BAS reports your GST and other tax amounts for a set period. Most small businesses lodge quarterly, while some lodge monthly. Follow these steps when you prepare yours:
- Reconcile your bank accounts so every transaction is recorded.
- Check that your sales and purchases carry the correct GST codes.
- Review the GST you collected and the GST credits you can claim.
- Add any PAYG withholding and PAYG instalment amounts.
- Lodge through ATO online services, your accounting software or a registered agent.
- Pay any amount owing by the due date.
Quarterly BAS deadlines usually fall on the 28th of the month after each quarter ends. The September quarter, for example, is due on 28 October. The December quarter is the exception, with a 28 February due date. Many registered agents receive extended lodgement dates for their clients, which gives you extra time.
Reconcile first, lodge second. Most BAS errors come from unreconciled bank feeds and wrong GST codes, not from the form itself.
Accurate bookkeeping makes lodgement fast. Specialist bookkeeping for tradies, for instance, keeps job costs and GST organised, so your BAS takes minutes instead of days.
Understanding GST Registration
You must register for GST when your turnover reaches $75,000 a year. You can also register earlier by choice. Once registered, you charge 10% GST on most sales and claim credits for the GST on your business purchases.
You need a valid tax invoice to claim a credit, so keep every supplier invoice. Missing records mean missing credits. Set aside the GST you collect in a separate account, because that money belongs to the ATO.
GST you collect is not your money. Move it to a separate account each time a client pays, and your BAS bill will never come as a shock.
PAYG Instalments and Business Tax Returns
PAYG instalments spread your income tax across the year. The ATO usually calculates the amount from your last tax return. You then pay it with your BAS or on an instalment notice.
If your income changes sharply, review your instalment amount. Paying too little leads to a large bill at year end. Paying too much ties up your cash.
Your business tax return finalises the year. Sole traders report business income in their personal return. Companies and trusts lodge separate returns. Lodgement dates vary by structure and by whether you use a tax agent, so confirm your due date early.
Key Tax Deadlines at a Glance
| Obligation | Typical Frequency | Key Date |
|---|---|---|
| Quarterly BAS | Every quarter | 28 Oct, 28 Feb, 28 Apr, 28 Jul |
| Monthly BAS | Every month | 21st of the following month |
| PAYG withholding | With your BAS or as scheduled | Per your reporting cycle |
| PAYG instalments | Quarterly or annually | With your BAS or instalment notice |
| STP finalisation | Yearly | 14 July |
| Business tax return | Yearly | Varies by structure and agent |
Staff add another layer to this calendar. Dependable payroll for small businesses keeps withholding, super and Single Touch Payroll reports on time, so your BAS figures match your payroll records.
Behind on a BAS or unsure of your due date?Our registered tax agents can confirm your deadlines and lodge for you, often with extra time.
Why Proactive Tax Planning Matters
Many owners only think about tax after the year ends. By then, most options have closed. Proactive planning flips that approach.
A registered tax agent reviews your numbers during the year. They estimate your tax bill early and suggest legitimate ways to manage it. For example, they may time equipment purchases, review your structure or adjust your PAYG instalments.
Good planning also protects your cash flow. You know how much to save for GST and income tax, so payment dates no longer cause stress. Professional tax services combine this planning with accurate lodgement, and that reduces the risk of errors, penalties and surprise bills.
Plan before 30 June, not after it. Most legitimate ways to manage your tax only work if you act during the financial year.
When to Get Help From a Registered Tax Agent
You can lodge a simple BAS yourself. However, consider expert help when:
- Your business grows or you hire staff.
- A change of structure is coming, such as moving from sole trader to company.
- You fall behind on lodgements.
- An ATO review or notice arrives.
- You want a clear plan to reduce your tax legitimately.
An agent also saves you time. You focus on customers, while the agent handles the paperwork and the deadlines.
Tax Services for Small Business by Industry
Every industry has its own BAS quirks, from fuel tax credits to TPAR reporting. These are the industries our team works with across Sydney.
Never Miss a BAS Deadline Again
Our tax services for small business cover BAS preparation and lodgement, PAYG instalments and tax planning ahead of year end, all handled by registered tax agents. Businesses across Sydney work with us from our North Strathfield and Liverpool offices.
Frequently Asked Questions
How often do I need to lodge a BAS?
Most small businesses lodge quarterly. Some choose monthly lodgement to manage cash flow, and the ATO may require it for larger GST amounts.
What happens if I lodge my BAS late?
The ATO may charge a failure to lodge penalty, plus interest on any unpaid amount. Contact the ATO or your agent early if you fall behind.
Can I lodge a BAS myself?
Yes. You can lodge through ATO online services or your accounting software. Many owners still use a registered agent for accuracy and extra lodgement time.
When is the December quarter BAS due?
The October to December quarter BAS is usually due on 28 February, rather than 28 January, to allow for the holiday period.
Do I need to lodge a BAS if I am not registered for GST?
You may still need to lodge one if you have PAYG withholding or PAYG instalment obligations. If you have none of these, you generally do not need to lodge a BAS.
Keep Reading
This guide contains general information only and does not take your personal circumstances into account. Speak with a registered tax agent before acting on it.