BAS / IAS

Understanding Business Activity Statements (BAS)

A Business Activity Statement (BAS) is a mandatory form issued by the Australian Taxation Office (ATO) that businesses in Australia must complete and submit periodically. This form is essential for reporting and paying various tax obligations, including:

GST (Goods and Services Tax) is collected and paid

PAYG (Pay As You Go) withholding amounts for employees

PAYG instalments for business income

WET (Wine Equalisation Tax)

Fuel Tax Credits (FTC)

Any business registered for GST, regardless of its turnover, is required to lodge a BAS. The frequency of lodgement depends on your annual turnover:

Businesses earning under $20 million typically report quarterly

Those over $20 million are usually required to report monthly

Each BAS covers a specific reporting period (monthly, quarterly, or annually) and requires businesses to disclose relevant figures, settle any tax liabilities, and claim eligible GST credits. In addition to tax data, your ABN and GST registration details must also be included on the BAS form.

The ATO now refers to BAS as Activity Statements, and they can be lodged conveniently online via the ATO Business Portal or through a Registered Agent like Hill’s Tax Agent.

What’s the Difference Between BAS and IAS?

While both BAS and IAS (Instalment Activity Statement) are filed with the ATO, they serve different functions:

A BAS reports GST, PAYG withholding, PAYG instalments, WET, and FTC, usually lodged quarterly or monthly, depending on the business size.

An IAS is primarily used by businesses or individuals who do not need to report GST but must make PAYG income tax instalments. It allows for spreading the annual tax bill over the year in monthly or quarterly payments.

In short, BAS deals with broader tax compliance, while IAS focuses solely on income tax instalments.

Why Choose Our Registered BAS Agents in Castle Hill, NSW?

At Hill’s Tax Agent, we take the complexity out of BAS filing with the help of our skilled and registered BAS agents based in Castle Hill, New South Wales. Our agents are certified professionals who ensure the accurate preparation and timely lodgement of your BAS, with a strategic approach designed to maximise benefits and minimise risk.

What sets us apart:

We stay continually updated with ATO regulations, industry insights, and tax law changes

We offer clear advice on all BAS-related tax components

We provide ongoing support to ensure your business remains compliant and financially sound

Partnering with our registered BAS agents means your business benefits from not only expertise but also safe harbour protections—legal assurance that you won’t be penalised for genuine errors made under agent guidance.

The Hill’s Tax Agent Advantage

When you engage Hill’s Tax Agent as your BAS representative, you gain access to a wealth of professional and practical benefits:

✅ Expert Advice – We help identify tax-saving opportunities and optimise your BAS lodgements

✅ Deadline Protection – Never miss an ATO due date with our proactive reminders and lodgement extensions available to Registered Agents

✅ Accurate Reconciliation – All business activities are cross-verified and precisely reported

✅ Safe Harbour – Registered Agents are protected under ATO guidelines, giving your business added security

✅ Ethical Assurance – Our CPAs and Chartered Accountants abide by strict professional codes, hold adequate Professional Indemnity Insurance, and complete ongoing Continuing Professional Development

✅ Time Savings – Focus on running your business while we manage your compliance efficiently

Let’s Keep BAS Filing Easy

Filing your BAS doesn’t have to be stressful or time-consuming. With Hill’s Tax Agent by your side, you’re backed by a professional team that makes accuracy and compliance their top priority. Our registered BAS agents offer the experience, tools, and proactive service your business needs—especially during reporting season.