Running a business in Melbourne? Then you know the dreaded BAS (Business Activity Statement) lodgement is something you just can’t ignore. But don’t stress-lodging your BAS doesn’t have to be a headache. If you’re running a business in Melbourne, navigating your GST and BAS lodgement service in Melbourne is crucial.
Here’s your no-fuss, stress-free guide to lodging BAS in 2025 like a pro.
Know Your BAS Lodgement Dates
The ATO is strict with deadlines, and missing your lodgement date could mean penalties. Here’s a quick breakdown of typical lodgement periods:
Quarterly Lodgers: (Most small businesses)
Q1: July-Sept: Lodge by 28th Oct.
Q2: Oct-Dec: Lodge by 28th Feb
Q3: Jan-March: Lodge by 28th April
Q4: April-June : Lodge by 28th July
Monthly Lodgers: Lodge by the 21st of the following month
Pro Tip: Set reminders on your phone or use accounting software to get alerts before the due date!
Keep Your Records Organised
Accurate record-keeping is key to a hassle-free BAS lodgement. To stay compliant and avoid costly mistakes, ensure you track:
Sales and invoices
Business expenses
GST collected & paid
Payroll details (if you have employees)
Best Practice: Leverage clouf-based accounting software like Xero, MYOB, or QuickBooks. These tools automate GST calculations, streamline record-keeping, and make BAS lodgement more efficient and stress-free.
Understand What's Actually In Your BAS
BAS isn’t just about GST. It includes multiple components, such as:
GST (Goods & Services Tax): What you’ve collected & what you can claim back.
PAYG (Pay As You Go) Withholding: If you have employees, this is the tax withheld from their wages.
PAYG Instalments: Your business’s estimated tax payments.
Other Taxes & Duties: Luxury car tax, wine equalisation tax, etc. (only if applicable to your business).
Why This Matters: Understanding these components ensures you report correctly and avoid errors that could cost you.
Lodge Your BAS The Easy Way- Go Online!
The days of manual paperwork are over. The ATO provides easy ways to lodge your BAS online:
Business Portal: Direct lodgement through the ATO website.
myGov: Suitable for sole traders.
Accounting Software: Lodgement with one click!
BAS Agent/Accountant: If you prefer a professional to handle it.
Pro tip: Using an online BAS lodgement option saves time and reduces errors.
Avoid Common BAS Mistakes
Forgetting to claim GST credits
Reporting incorrect figures
Missing a lodgement deadline
Not reconciling BAS with business accounts
Using estimates instead of actual figures
How to fix this? Double-check numbers before submitting, and always reconcile your BAS with your business records. Because mistakes in ATO BAS lodgement can lead to penalties or audits.
Managing Cash Flow? ATO Payment Plans Available
If you can’t pay your BAS on time, don’t panic. The ATO offers payment plans for businesses facing cash flow problems.
Call the ATO or apply online for flexible payment arrangement.
Pro Tip: Paying BAS late without a plan can lead to interest charges, so it’s better to set up a payment plan in advance.
If you’re unable to lodge a BAS statement on time due to financial issues, the ATO offers flexible payment plans.
Scale Financial Management With Your Growth
As your financial situations evolve, so do your bookkeeping needs. Whether you’re expanding a business, taking on more clients, or managing new income streams, a bookkeeper helps you scale efficiently.
By working with a professional bookkeeper, you get expert support tailored to your changing needs. They ensure your financial management grows with you, so you’re always prepared for the next step.
Stay Updated With ATO Changes
Tax laws regularly change, and 2025 is no different. Staying informed can help you avoid mistakes and take advantage of any new tax benefits. The ATO frequently updates regulations that may impact GST< deductions, or lodgement deadlines.
Here’s how to stay ahead:
Subscribe to ATO newsletters: Get the latest updates straight to your inbox.
Follow ATO on social media: Quick updated on tax changes ans reminders.
Cosult an accountant or BAS agent: They can help you understand new rules and ensure compliance.
Check the ATO website regularly: Find official updates, lodgement dates, and useful guides.
Staying informed means fewer errors, no last-minute surprises, and a smoother BAS lodgement process!
Checking the ATO websites ensures you follow the latest updates for BAS return lodgement deadlines.
Wrapping Up
Lodging your BAS doesn’t have to be stressful. By staying organised, using accounting software, and lodging on time, you can avoid unnecessary hassle and penalties. Simple steps- like setting reminders, double-checking numbers, and keeping up with tax updates- can make a big difference.
If you’re ever unsure, don’t hesitate to get professional help. A BAS agent or accountant can save you time, prevent costly mistakes, and even help you claim the deductions you’re entitled to.
For hassle-free BAS online lodgement, consider professional assistance from Leading Tax Expert. We offer tailored tax solutions, bookkeeping, and compliance support, ensuring your BAS is lodged accurately and on time. Our team of professionals takes the stress out of tax obligations, so you can focus on growing your business with confidence.
