Do I need to lodge a BAS?
You need to register for GST, and then lodge a BAS, once your business turnover is $75,000 or more a year. You can register earlier if you choose.
When is it due?
For quarterly lodgers, the usual due dates are:
- July to September: 28 October
- October to December: 28 February
- January to March: 28 April
- April to June: 28 July
If you use a registered tax or BAS agent, you may get extra time.
The boxes most sole traders use
- G1 Total sales: everything you invoiced or were paid in the period, including GST.
- 1A GST on sales: the GST you collected from clients. This is what you owe the ATO.
- 1B GST on purchases: the GST you paid on business expenses, like materials, tools and fuel. This is what you get back.
What you pay is roughly 1A minus 1B. If 1B is bigger, the ATO pays you.
Cash or accruals?
Most sole traders report on a cash basis, which means you count a sale when you're paid and an expense when you pay it. It matches the money in your account, which makes it simpler.
Five habits that make BAS time easy
- Send every invoice from one place, so your sales are all in one list.
- Snap every receipt on the day. A faded receipt in the ute is a lost GST credit.
- Keep business and personal spending in separate bank accounts.
- Record part payments and deposits when they come in.
- Look at your GST figure every month, not just at the deadline.
How TalkQuote helps
TalkQuote tracks the GST on every invoice you send and every receipt you snap, and works out your G1, 1A and 1B on a cash basis as you go (Pro plan). Bec, your AI books helper, flags expenses that are missing a receipt or category before the quarter ends.
Frequently asked questions
This is general information, not tax advice. Check with your accountant or the ATO for your situation.
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