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Business Activity Statement (BAS)

Business Activity Statement (BAS) Services

Goods and services tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia.

AdvisorCorp is registered with the Tax Practitioners Board

We are also a member of a professional accounting organisation Institute of Public Accountants. We abide by professional and ethical standards. 

Tax Agent

GST registration requirements

    • when your business or enterprise has a GST turnover (gross income minus GST) of $75,000 or more (see Working our your GST turnover)
    • when you start a new business and expect your turnover to reach the GST threshold (or more) in the first year of operation
    • if you're already in business and have reached the GST threshold
    • if your non-profit organisation has a GST turnover of $150,000 per year or more
    • when you provide taxi or limousine travel for passengers (including ride-sourcing) regardless of your GST turnover – this applies to both owner drivers and if you lease or rent a taxi
    • if you want to claim fuel tax credits for your business or enterprise.

    Registering for GST is optional if your business or enterprise doesn’t fit into one of these categories. If you choose to register, generally you must stay registered for at least 12 months.

Accounting for GST in your business
As a GST-registered business, you need to issue tax invoices to your customers, collect GST and send it to us with your business activity statement (BAS). There are a few ways you can make this easier to manage:
  • use business accounting software to produce tax invoices and automatically generate reports of your GST liabilities and credits at BAS time
  • put the GST you collect in a separate bank account
  • take advantage of the cash accounting option to align your GST liabilities with your business cash flow better.
Lodging your BAS or annual GST return
You report and pay GST amounts to us, and claim GST credits, by lodging a business activity statement (BAS) or an annual GST return.
ATO issue your business activity statement about two weeks before the end of your reporting period, which for GST is usually every three months. The date for lodging and paying is shown on your activity statement.
GST Registration for Uber Drivers
As an Uber driver, regardless of your income, you must account for GST on all earnings. Unlike other small businesses such as online stores and market stalls, rideshare drivers do not qualify for the GST registration threshold of $75,000. As a result, even if you only make $50 total as a driver, you will need to register for GST and declare the income on your tax return. Drivers are also entitled to a range of tax credits and can claim the expenses related to providing their rideshare services.

BAS and GST tips

If you are a business registered for GST you need to lodge a business activity statement (BAS). 

Lodge with us
Record keeping
Fuel tax credits
Fixing BAS mistakes
Making adjustments
Lodge with us
As a registered tax agent, we can lodge, vary, and pay on your behalf through our electronic channel.
When you use us as a tax agent:
  • we can view activity statements sent to your myGov Inbox
  • you can still access your activity statement through the Business Portal or myGov even if our tax agents are managing them on your behalf.
Record keeping
  • Keep records of all sales, fees, expenses, wages and other business costs
  • Keep appropriate records, such as stocktake records and log books to substantiate motor vehicle claims
  • What to do if an Australian business number (ABN) isn't provided
  • Reconcile sales with bank statements
  • Use the correct GST accounting method
  • Keep all your tax invoices and other GST records for five years
Fuel tax credits
As a business, fuel tax credits provide you with a credit for the fuel tax (excise or customs duty) that's included in the price of fuel used in:
  • machinery
  • plant
  • equipment
  • heavy vehicles
  • light vehicles travelling off public roads or on private roads.
The credit amount depends on:
  • when you acquire the fuel
  • what fuel you use
  • the activity you use it in.
Fuel tax credits rates change regularly so it's important to check the rates each time you do your BAS.
Before you can make a claim, you must be registered for GST and fuel tax credits.
Fixing BAS mistakes
Examples of mistakes include:
  • Clerical or transposition errors
  • Classifying a GST-free sale or purchase as taxable
  • Classifying a taxable sale or purchase as GST-free
  • Double counting some of your purchases.
How to fix a mistake
You can fix a mistake on your next BAS or revise the original BAS. Conditions apply depending on if it's a credit or debit error.
Many mistakes relating to GST and fuel tax credit can be corrected in your next BAS. If you can't correct your mistake in your next BAS, you need to lodge a revision.
Making adjustments
When you become aware of the need for an adjustment, you generally report it in the activity statement for your current reporting period.
Examples of when to make an adjustment:
  • If the price of a sale or purchase changes
  • If goods are returned and the sale is cancelled

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