Capify
  • Products
    • Unsecured Business Loans
    • Secured Business Loans
  • Partner with Us
    • Brokers
    • Partners
  • About
    • About Us
    • Careers
    • Contact Us
  • Resources
    • Blog
    • FAQs
    • Loan Calculator
  • Products
    • Unsecured Business Loans
    • Secured Business Loans
  • Partner with Us
    • Brokers
    • Partners
  • About
    • About Us
    • Careers
    • Contact Us
  • Resources
    • Blog
    • FAQs
    • Loan Calculator

1300 760 930

Get Started
  • Products
    • Unsecured Business Loans
    • Merchant Cash Advance
  • Brokers
  • Partners
  • About
    • About us
    • Careers
    • Contact Us
  • Resources
    • Blog
    • FAQs
    • Small Business Loan calculator
  • User Login
Menu
  • Products
    • Unsecured Business Loans
    • Merchant Cash Advance
  • Brokers
  • Partners
  • About
    • About us
    • Careers
    • Contact Us
  • Resources
    • Blog
    • FAQs
    • Small Business Loan calculator
  • User Login
User Login

Home » Featured » Stay Ahead: How to Prepare for Your Next BAS Deadline

  • Featured, Money & Finance, Small Business

Stay Ahead: How to Prepare for Your Next BAS Deadline

  • July 9, 2024

The next quarterly due date to lodge your Business Activity Statements (BAS) is on July 28, 2024.

Here are some comprehensive tips for Australian businesses when lodging your BAS.

1. Organise Your Records

Ensure all business invoices and receipts are categorised and reconciled. Using accounting software like Xero or MYOB can help automate this process by connecting directly to your business bank account.

2. Double-Check Transactions

Review your transactions to ensure there are no missing receipts or invoices. Record any missing transactions including the date, amount, GST, and description.

3. Accurate Reporting

Ensure all reported amounts are accurate and correctly classified. Any errors should be rectified promptly, either by adjusting them in the next BAS or amending the original BAS depending on the type of error.

4. Lodge on Time

Ensure you lodge your BAS by the due date to avoid penalties. For the quarter ending June 2024, the due date is 28 July 2024. If the due date falls on a weekend or public holiday, you have until the next business day to lodge and pay.

5. Seek Professional Advice

If you’re unsure about any aspect of your BAS, consult a professional accountant or tax advisor. They can provide tailored advice and help ensure your BAS is lodged accurately and on time.

6. Future Preparations

To simplify future BAS lodgements, keep accurate and up-to-date records continuously. This includes sorting your accounts according to their relevant BAS categories and adding receipts and invoices to your accounting system as soon as you receive them.

7. Understand BAS Due Dates

Familiarise yourself with the BAS due dates to avoid penalties. The due dates vary based on your GST reporting and payment cycle:

  • Quarterly Reporting: If your GST turnover is less than $20 million and you aren’t told to report GST monthly, you must lodge and pay quarterly.
  • Monthly Reporting: Businesses with a GST turnover of $20 million or more, you must report and pay GST monthly. This is due on the 21st day of every month.
  • Annual Reporting: Voluntarily registered businesses with a GST turnover under $75,000 ($150,000 for not-for-profit bodies) must lodge and pay their annual GST return by 31 October.

If you use a registered tax or BAS agent, different dates may apply.

For more detailed information, you can visit the ATO’s official page on due dates for lodging and paying your BAS.

Considering finance but unsure where to start? Give our team a call on 1300 760 930 or click Get Started. We’re here to talk through your needs and help you access funds in as little as 24 hours.

SHARE THIS POST

Categories

Small Business
Money & Finance
Productivity
Mindset

Recent Posts

EOFY 2025: 5 Last-Minute Tips for Small Businesses

Federal Budget 2025–26: What Australian Small Businesses Need to Know

Capify Appoints Sam Colclough as Head of Technology to Accelerate Growth in the UK & AU Markets

Related Blogs

Previous
Next
Products
  • Small Business Loans
  • Unsecured Business Loans
  • Secured Business Loans
  • Merchant Cash Advance
Partner with Us
  • Partners
  • Brokers
About
  • About Us
  • Careers
  • Contact Us
  • User Login
  • Complaints
Resources
  • Blog
  • FAQs
  • Loan Calculator
  • Privacy Policy
  • Terms of use
Capify Australia
Facebook-f Instagram Linkedin-in Youtube

Copyright © 2025 Capify is a trademark licensed to Ausvance Capital II Pty Limited (ABN 91 630 468 156). All Rights Reserved.