What is a Business Activity Statement (BAS)?
A Key Lodgement Requirement for GST-Registered Businesses
A Business Activity Statement (BAS) is a form submitted to the Australian Taxation Office (ATO) to report and pay various tax obligations. It’s primarily required for businesses registered for Goods and Services Tax (GST), but it also covers:
- Pay As You Go (PAYG) instalments
- PAYG withholding (for employees)
- Fringe Benefits Tax (FBT) instalments
- Fuel tax credits and other obligations
Depending on your business, you may need to lodge BAS monthly, quarterly, or annually. Incorrect or late BAS lodgement can result in penalties and cash flow disruption, making accurate preparation crucial.
Why BAS Preparation Matters
Avoid Penalties, Stay Compliant, and Understand Your Finances
BAS preparation isn’t just an administrative task, it directly affects your business’ compliance and financial health. Properly prepared BAS helps:
- Ensure your GST obligations are accurate
- Prevent ATO penalties or interest charges
- Maintain consistent cash flow management
- Provide clarity on your tax liabilities
- Keep your financial reporting aligned with your business goals
As your business grows or regulations change, support from BAS accountants become even more valuable.
Explore our BAS Accounting Services
Comprehensive Support from Registration to Lodgement
At Zimsen Partners, we offer end-to-end BAS accounting services tailored to your business size, structure, and industry. Our team of BAS accountants help you stay on top of all lodgement and compliance requirements.
Here’s how we support you:
- GST & BAS Registration: We’ll help you register for GST with the ATO if your turnover exceeds the threshold or if it’s strategically beneficial for your business.
- BAS Preparation: We review your financial records, reconcile accounts, and ensure all GST credits and liabilities are accounted for.
- BAS Lodgement: Our team prepares and submits your BAS directly to the ATO, ensuring it’s lodged accurately and on time.
- ATO Compliance: We manage all communications with the ATO on your behalf, including resolving queries or notices.
- GST Audits and Reviews: We assist with internal reviews and ATO audits, ensuring your GST claims and reporting are substantiated.
- Updated Reporting: We stay on top of the latest BAS and GST reporting requirements, so you don’t have to.
Our BAS Preparation Process
Reliable, Accurate, and Stress-Free BAS Lodgement
When you partner with us for your BAS, here’s what you can expect:
- Initial Review: We analyse your business structure, industry, and reporting obligations.
- Bookkeeping Check: We ensure your accounts are up to date and accurate, reviewing income, expenses, and GST coding.
- Preparation: Our BAS accountants prepare your statement, double-checking for compliance, deductions, and reporting accuracy.
- Client Review: You’ll receive a copy for review and approval, with a clear breakdown of any liabilities due.
- Lodgement & Follow-up: We lodge your BAS on your behalf and monitor for ATO correspondence or next steps.
Whether you use cloud-based accounting software or need support from the ground up, our process is seamless, transparent, and efficient.
Why Choose Zimsen Partners as Your BAS Accountant
A Partner in Compliance, Strategy, and Business Confidence
Working with one of our BAS accountants isn’t just about staying compliant, it’s about gaining clarity and saving time so you can focus on what matters most: growing your business.
At Zimsen Partners, we offer:
- Over 25 years of experience in tax and accounting services
- BAS accountants who understand local Melbourne businesses and industries
- Full integration with your existing bookkeeping and accounting systems
- A proactive approach to keep your business ahead of changes
- End-to-end support with tax, compliance, and business advisory
Whether you’re behind on BAS, facing a complex GST audit, or simply want peace of mind each quarter, our team is here to help.
Take the stress out of BAS: Partner with Experts You Can Trust
Let’s keep your business compliant and confident
Whether you’re lodging for the first time or need support with complex reporting, Zimsen Partners is your trusted BAS accountant in Melbourne. Book a consultation today to simplify your BAS obligations and gain back valuable time.
Frequently Asked Questions
Do I need to lodge a BAS?
If your business is registered for GST, you must lodge a Business Activity Statement. This typically applies if your annual turnover exceeds $75,000 (or $150,000 for non-profits). Even if you’re a sole trader or small business, you may be required to lodge depending on your structure and registration.
How often do I need to lodge BAS?
The frequency depends on your business size and ATO requirements. Most businesses lodge quarterly, while larger entities may need to report monthly. Annual BAS is an option for smaller businesses with lower turnover.
Can you help with late BAS lodgements?
Yes. If you’ve missed one or more BAS deadlines, we can help bring your lodgements up to date, manage ATO communications, and potentially reduce penalties through voluntary disclosure.
Can you help if I’m being audited for GST?
Yes. We assist clients undergoing ATO GST audits by reviewing transactions, preparing required documentation, and representing your interests during the process.
