Due Dates for Lodgement of Bas

Due dates for lodgment of Business Activity Statement with Australian Taxation Office and payment of taxes Sr. No Quarter Due date 1 July, August and September (Q1)28 October 2 October, November and December (Q2)28 February 3 January, February and March (Q3)28 April 4 April, May and June (Q4)28 July

Monthly reporting:
In case the Assessee has monthly payment requirement, the due date is usually on the 21st day of the following month. In case of public holiday, payment can be made on next business day.

How can you lodge your BAS:
BAS can be lodged b in following manner:
• Online, using the Business Portal, Standard business reporting (SBR) or Electronic commerce interface (ECI).
• By E-mail.
• through a registered tax agent or BAS agent.
• ATO also provides option of submission of BAS through phone in case all the other options are not available.

Time duration for record keeping:
After submission of BAS statement the business records needs to be kept for a period of whichever is later:
• Five years after the transaction was completed,
• Four years after lodging of BAS.
• Four years after receiving amended Assessment Order.

Failure of in Lodging BAS:
• BAS can impose Failure to Lodge (FTL) penalty in case there is failure in lodging of BAS.
• ATO can issue FTL notice for defaults of Assessee.

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