Tax & Financial Reporting
BAS & GST Reporting in Melbourne
A Business Activity Statement (BAS) is the form Australian businesses use to report and pay GST, PAYG withholding, and other tax obligations to the ATO. Businesses with annual turnover above $75,000 must register for GST and lodge a BAS — quarterly for most, monthly for larger businesses. Late lodgements attract penalties of $330 to $1,650 per statement.
Get a Free ConsultationWho Must Register for GST and Lodge a BAS?
Businesses with annual turnover of $75,000 or more must register for GST and lodge a BAS. The threshold is $150,000 for non-profit organisations. Taxi and ride-sharing operators must register regardless of turnover. Once registered, the ATO assigns a lodgement frequency — quarterly for most Melbourne small businesses, monthly for those with turnover above $20 million or who voluntarily elect monthly reporting.
Quarterly vs Monthly BAS Lodgement
Most Melbourne small businesses lodge quarterly. Quarterly lodgements are due on the 28th of the month following each quarter end — 28 October, 28 February, 28 April, and 28 July. Monthly lodgers must lodge by the 21st of the following month. Using a registered BAS agent extends the due date by two weeks, giving Melbourne businesses more time without penalty exposure.
What Is Included in a BAS?
A standard quarterly BAS includes GST collected on sales, GST credits on business purchases (input tax credits), PAYG withholding from employee wages, PAYG instalments on business income, and fuel tax credits where applicable. Errors in any of these fields can trigger ATO reviews or incorrect payments. We prepare each BAS from reconciled books, ensuring every figure is supported by underlying transaction data.
ATO Penalties for Late or Incorrect BAS Lodgement
The ATO imposes a failure-to-lodge penalty of one penalty unit ($330 from 1 July 2025) per 28-day period for each overdue BAS, capped at five penalty units ($1,650) per statement. General interest charge applies to any unpaid GST from the original due date. For Melbourne businesses lodging quarterly, missing two quarters without correction can accumulate over $3,000 in penalties before the matter is resolved.
GST Input Tax Credits — Claiming What You Are Entitled To
Input tax credits allow businesses to reclaim the GST component of business expenses. Common Melbourne business expenses — rent, equipment, subcontractors, professional fees — all carry GST credits, but only if the purchase is creditable and supported by a valid tax invoice. We review your expense coding to ensure credits are maximised and private-use apportionments are correctly applied.
Written by Faisal Saleem, CPA · Last updated: 15 May 2026
How it works
GST Registration and Setup
We confirm your GST registration status, establish your correct lodgement frequency, and configure your accounting software to capture GST on all transactions with the correct tax codes.
Pre-Lodgement Reconciliation
Before each BAS is prepared, we reconcile your GST accounts to the underlying transactions, confirming that collected GST and input tax credits match your sales and purchases records.
BAS Preparation and Review
We prepare the BAS from reconciled data, apply any PAYG withholding and instalment amounts, and review the completed statement with you before lodgement.
Lodgement and Payment Management
We lodge electronically via the ATO's BAS Agent Portal and provide a payment summary if GST is owed. Refunds are typically processed by the ATO within 14 days of lodgement.
Frequently asked questions
What is the GST registration threshold in Australia?
Businesses with annual turnover of $75,000 or more must register for GST and lodge a BAS. The threshold for non-profit organisations is $150,000. Taxi and ride-share drivers must register regardless of turnover. Voluntary registration is permitted below these thresholds.
When are quarterly BAS due dates in Australia?
Quarterly BAS lodgements are due on 28 October (Q1), 28 February (Q2), 28 April (Q3), and 28 July (Q4). BAS agents receive extended deadlines — typically an additional two weeks — which we pass on to all Centric Accountants clients.
What is the penalty for a late BAS?
The ATO imposes a failure-to-lodge penalty of $330 (one penalty unit from 1 July 2025) for each 28-day period a BAS is overdue, up to a maximum of $1,650 (five penalty units) per statement. General interest charge accrues separately on any unpaid tax amounts from the original due date.
Can I claim GST on all business purchases?
You can claim input tax credits on most purchases used in carrying on your business, provided the supplier is registered for GST and you hold a valid tax invoice. Purchases with no GST (such as wages, bank charges, and most financial services) cannot generate a credit. Private-use portions of mixed-use expenses must be excluded.
What is the difference between a BAS agent and a tax agent?
A BAS agent is registered to prepare and lodge BAS and IAS (Instalment Activity Statement) forms on behalf of clients. A tax agent is registered to prepare income tax returns and provide tax advice. Centric Accountants holds both registrations, allowing us to handle all ATO lodgement obligations from a single firm.
Related services
Individual Tax Preparation
An individual tax return reports your income, claims deductions you are entitled to, and calculates whether you owe tax ...
Business Tax Preparation
Business tax preparation covers the preparation and lodgement of income tax returns for companies, trusts, and partnersh...
Financial Reporting
Financial reporting produces financial statements — profit and loss, balance sheet, and cash flow statement — in accorda...
Get in Touch
Ready to see your
finances clearly?
Book a conversation with Faisal. No obligation, no jargon. Just a clear picture of where you stand and where you could go.