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BAS (Business Activity Statement)

BAS (Business Activity Statement) is a report submitted to the Australian Taxation Office (ATO) by businesses registered for GST, PAYG withholding, or other tax obligations. It details taxes collected, credits claimed, and payments due. BAS is essential for compliance and is often required for finance applications such as Low Doc Asset Finance, No Doc and Working Capital Loans.

Why BAS Matters

BAS ensures tax compliance and provides lenders with verified financial activity. It helps determine Borrowing Capacity and Credit Limits. SMEs in the Tradie Hub, Truckie Hub, Café Hub, and Whitecoat Hub rely on accurate BAS for smooth finance approvals. For deeper strategy, see our guides on Low Doc ATO & BAS Loans and Low Doc Cashflow Loans.

How BAS Works

  • Business lodges BAS to the ATO (monthly or quarterly).
  • Reports GST collected, PAYG withholding, and other taxes.
  • Lenders may request copies to verify cashflow and tax compliance.
  • Supports Low Doc, No Doc, and standard loan approvals.
  • Accurate BAS reduces delays and ensures proper credit assessment.

Related Switchboard Resources

Official info: business.gov.au

Who must lodge BAS?
All businesses registered for GST, PAYG withholding, or other relevant taxes must lodge BAS with the ATO.
How often is BAS lodged?
BAS is typically lodged monthly or quarterly depending on business size and tax obligations.
Why is BAS important for finance applications?
It provides verified tax and cashflow records, which lenders use to assess creditworthiness and repayment capacity.