Also called: Business activity statement
BAS
A BAS, or business activity statement, is the form registered businesses lodge with the ATO to report and pay GST, PAYG withholding, PAYG instalments and certain other obligations. Most businesses lodge quarterly, some monthly or annually.
What is a bas?
A BAS, or business activity statement, is the form registered businesses lodge with the ATO to report and pay GST, PAYG withholding, PAYG instalments and certain other obligations. Most businesses lodge quarterly, some monthly or annually.
Example
A lender reviewing a low-doc application uses four quarterly BAS to confirm annual turnover of roughly $960,000.
Why it matters
Lodged BAS is often the fastest independent evidence of turnover, which makes it central to low-doc assessment.