The Business Activity Statement ("BAS") has now become one of the main avenues of communication between the ATO and businesses in Australia. The BAS includes a number of sections, the most commonly used being:

• GST Return - GST collected less GST paid reported on a monthly or quarterly basis (annual reporting is available below the $75k threshold).
• PAYG withholding - from wages paid to employees. Reported monthly or fortnightly depending on business size.
• PAYG instalments - income tax paid by instalment throughout the year and determined based on prior tax returns.
• FBT instalments - If you had to pay FBT of $3,000 or more in the previous year, you need to pay the tax quarterly by instalments with your activity statement 

Regular reporting and regular payments seem to be a pet hate of most small business. Preparing your BAS statements correctly and ensuring that your GST and PAYG is reported correctly, will save you a lot of heartache and worry. Let theResponse take care of it for you. Never miss a due date again!

DATES TO REMEMBER
End of Financial Year	30th June
FBT Period	1st April to 31st March
Income Tax Lodgement	31st October
GST	Monthly: 21st of every month Quarterly: 28th September, February April, July