BAS and reporting
BAS due date
The BAS due date is the deadline by which a business must lodge its Business Activity Statement and pay any amount owing, and it depends on the reporting cycle the business uses.
A BAS due date is the final day you can lodge the statement and pay what you owe without being late. Which date applies depends on how often you report. Most small businesses report quarterly, and their statements are generally due 28 days after the end of each quarter. Monthly reporters have a shorter turnaround, with the statement generally due on the 21st day of the following month.
Because the quarters follow the financial year, with the first quarter ending on 30 September, the due dates fall around the end of the month after the quarter closes, such as late October, late February and late April. The quarter ending 31 December commonly has a later due date, in February, because of the holiday period. The ATO publishes the exact dates each year, so check the current calendar rather than relying on memory.
If you use a registered tax agent or BAS agent, you may be able to lodge later than the standard date under the agent's lodgment program. This extra time applies to the lodgment only in many cases, and payment obligations can differ, so ask your agent which dates apply to you. Do not assume an extension applies unless your agent confirms that you are on their program.
When a due date falls on a weekend or public holiday, you generally have until the next business day. Even so, build in a buffer, because payment by bank transfer can take time to reach the ATO, and online systems tend to be busy on due dates. Paying a few days early avoids last-minute problems.
Missing a due date can have costs. A failure to lodge penalty may apply to late statements, and unpaid amounts can attract the general interest charge, which accrues daily. Repeated late lodgment can also draw more ATO attention. If you know you will miss a date, contact the ATO before it passes to discuss options such as an extension or a payment plan.
A common mistake is to confuse the BAS period with the BAS due date, for example thinking that the quarter ending 31 March is due on 31 March. The statement is lodged after the period ends. Set up reminders and keep the money aside as you go. This is general information only, so confirm your dates with the ATO or a registered tax professional.
Worked example
Tom's business reports quarterly and the quarter ends on 30 September. His BAS shows net GST of $5,400. The standard due date is 28 October, so he lodges on 24 October and pays the $5,400 the same day. Had he lodged late, a failure to lodge penalty could apply, and had he paid late, general interest charge would accrue daily on the unpaid balance.
Practical tips
- Check the ATO's published due dates each year, because the quarter ending 31 December usually has a later date than the others.
- Pay a few days before the deadline so bank processing times do not make the payment late.
- If an extended agent date applies, confirm with your agent whether it covers payment as well as lodgment.