ATO Compliance
      Back to home
      1. Learning
      2. Payroll & Employees
      3. ATO Compliance

      Submit a BAS – Wiise AU

      Overview: 

      • Learn how to submit a BAS Report to the Australian Tax Office (ATO). 

      Why submit a BAS? 

      BAS submissions are required by ATO if your business is registered for GST. You might get to claim a GST refund if you’ve paid more GST than you’ve collected.  

      Note: Lodge your BAS through your Tax or BAS agent or lodge manually by mail. When you register for an ABN and GST, ATO will automatically send you a BAS when it is time to lodge.  

      How to submit a BAS? 

      1. Make sure that BAS and GST are setup correctly in Wiise for taxation compliance including GST as applicable for Australia.  
      2. Validate and reconcile your business sales, purchases and other financial transactions that contribute to your BAS. 
      3. Post your GST settlement, generate and review the BAS Report to ensure accuracy and completeness. Verify that all necessary transactions and data have been included in the BAS Report. 
      4. Export the BAS report data in an excel format and use the information to send this to your Tax or BAS agent to lodge.  
        1. Or, you can download the appropriate BAS form, fill in the details on the relevant boxes and lodge to ATO manually by mail.  
        Note: Lodging and paying your BAS on time is important. Most businesses lodge quarterly but how often you lodge will depend on your business. Quarterly reporting BAS are due every 28th quarterly.
      5.  Maintain a copy of the lodged BAS and any supporting documentation for your records. This helps with record-keeping and compliance. 
      6. If you’re unsure about any aspect of BAS lodgment or need assistance in configuring Wiise seek advice from a tax professional or your Wiise support team. 

       

      Note: If you find it hard to lodge and pay your BAS on time, let your Tax or BAS agent know as soon as possible before the due date so they can inform ATO to avoid getting penalties. They’ll work with you to find a solution. If you’re finding it hard to pay by the due date, you may be able to enter a payment plan. 

      Note: If you’re due a GST refund it will usually be paid into your nominated bank account. If, however, you’re expecting a refund as a credit, there could be circumstances where there could be a delay or offset against a tax debt.  

       

      What’s next? 

      Find out how to generate standard reports in Wiise. 

       

      Need more help?  

      No problem, that's what we're here for. Reach out to support@wiise.com anytime you can't find what you're looking for.