For many Australian business owners, the Business Activity Statement (BAS) is one of the most confusing and stressful parts of running a business. Late lodgements, missed GST credits, incorrect PAYG instalments—the stakes are high when it comes to BAS. And the ATO isn’t exactly known for leniency.
If you’ve ever asked yourself, “When should I hire a BAS accountant?” you’re not alone. In this article, we highlight 7 signs it’s time to seek BAS help before the ATO comes knocking.
🚨 1. You’ve Missed a BAS Lodgement Deadline (or Almost Did)
Keyword: missed BAS lodgement
ATO deadlines aren’t flexible. Whether you lodge monthly or quarterly, missing a BAS lodgement can trigger immediate consequences:
- Failure to Lodge (FTL) penalties
- Interest charges on unpaid liabilities
- Loss of GST credits or overpayments
- Audit risk increases
Even one missed BAS lodgement can damage your compliance record.
“The ATO applied a $1,100 penalty because I was two weeks late on my March BAS—and I didn’t even owe tax.”
A BAS accountant ensures every BAS is submitted correctly and on time. No stress. No late fees.
❓ 2. You’re Not Sure What to Include in Your BAS Statement
Keyword: BAS help
The BAS isn’t just about GST. Depending on your business structure and obligations, your BAS may need to include:
- GST collected and GST credits claimed
- PAYG withholding (for employee wages)
- PAYG instalments (for your income tax)
- Fuel tax credits
- Fringe benefits tax instalments
If you’re unsure what applies to you, that’s a sign you need professional BAS help.
BAS mistakes lead to overpayments, missed deductions, or ATO BAS penalties.
A registered BAS accountant knows what your business should include and how to report it.
⏰ 3. You’re Spending Too Much Time on Bookkeeping
Running a business is time-consuming. The average small business owner spends up to 10 hours preparing their BAS each quarter.
If you’re:
- Spending your weekends reconciling accounts
- Manually inputting figures into accounting software
- Googling “What goes into a BAS statement?”
… then it’s time to outsource this to a professional.
✅ With a BAS accountant:
- You reclaim hours each month
- Your figures are accurate and reviewed
- You lodge faster and with more confidence
Time is money. Let a qualified professional manage the complexity.
🤔 4. You’re Unsure if Your GST Setup Is Correct
Many small businesses either forget to register for GST or register too early.
Common issues:
- Charging GST when you’re not registered
- Not charging GST when required
- Claiming input tax credits incorrectly
- Setting up software accounts wrong
Incorrect GST setup affects:
- Pricing and invoices
- Supplier payments
- Eligibility for GST credits
A BAS accountant ensures your GST registration, reporting method, and setup are 100% correct.
🏛️ 5. You’ve Received ATO Notices, Penalties or Audit Warnings
Keyword: ATO BAS penalties
If you’ve received an ATO warning letter, fine, or review notice, do not ignore it.
ATO notices can relate to:
- Inconsistent BAS lodgements
- Incorrect GST returns
- Under- or over-reported PAYG
- Suspicious account activity
Even a small mistake can snowball into an audit.
A BAS accountant can:
- Review your past lodgements for accuracy
- Communicate directly with the ATO on your behalf
- Lodge amendments or overdue BAS statements
Professional BAS help now could prevent bigger problems later.
🎓 6. You Have Employees or Contractors But Don’t Understand Reporting Rules
Employing people introduces complexity.
You may need to report:
- PAYG withholding (tax taken from employee wages)
- Superannuation contributions
- STP (Single Touch Payroll) reporting
- Contractor ABN withholding (if they don’t quote an ABN)
Mistakes in this area trigger ATO scrutiny and employee disputes.
A BAS agent helps:
- Integrate payroll with your BAS process
- Set up compliant employee reporting
- Avoid double-reporting or underreporting PAYG
When it comes to staff, the cost of getting it wrong is far higher than the cost of expert help.
🤯 7. You Don’t Know if You’re Paying Too Much (or Too Little)
Perhaps the biggest reason to seek BAS help:
“How do I know I’m not paying too much GST or missing legitimate credits?”
An untrained eye can easily:
- Underclaim GST credits
- Double count income or expenses
- Misclassify tax codes in software
Over time, this can cost thousands in:
- Lost refunds
- Overpayments to the ATO
- Accrued penalties on underpayments
A BAS accountant reviews your figures to ensure you’re paying exactly what you owe—no more, no less.
🤝 What Does a BAS Accountant Actually Do?
You might wonder what’s included when you hire a BAS agent.
Services typically include:
- GST and PAYG calculation
- BAS statement preparation
- Lodgement to the ATO
- BAS amendments and corrections
- ATO liaison on your behalf
- Payroll integration and PAYG setup
- Bookkeeping review and reconciliation
Some BAS accountants are also tax agents and can provide broader tax planning help.
🔢 The Cost of Not Getting BAS Help
Skipping professional help may seem like a way to save money, but the cost of mistakes quickly adds up:
Potential costs of going it alone:
- FTL (Failure to Lodge) penalties: $275+ per BAS
- Interest charges on underpayments: 10%+ annually
- Audit costs and stress
- Missed GST credits (hundreds or thousands per year)
- Software subscriptions without professional use
Hiring a BAS accountant often pays for itself in avoided penalties and recovered credits.
🔎 When to Hire a BAS Accountant: A Final Checklist
Wondering if it’s the right time to bring in a professional? If any of the following apply, you need BAS help:
- ❌ You’ve missed a BAS lodgement or barely met a deadline
- ❓ You’re unsure what your BAS statement should include
- ⏳ You spend more than 3 hours a month on bookkeeping
- 🤔 You’ve received ATO letters, fines, or warnings
- 🏛️ You have staff or contractors
- 🚫 You’re not confident your GST setup is correct
- 🤯 You don’t know if you’re paying the right amount
If you checked even one, it’s time to find a qualified BAS accountant.
Use Finistry.com.au to connect with trusted, registered BAS agents near you.
❓ Frequently Asked Questions
What happens if I miss a BAS lodgement?
You may be fined by the ATO. FTL penalties start at $275 and increase based on how late your lodgement is and your business size.
How do I know when to hire a BAS accountant?
If you’re confused by GST rules, have overdue BAS statements, or have received ATO notices, now is the time.
What’s the difference between a BAS agent and a tax agent?
BAS agents handle BAS-specific services (GST, PAYG, payroll). Tax agents can also prepare income tax returns and offer tax planning.
How much does a BAS accountant cost?
Generally $150 to $400 per quarter, depending on business complexity. The cost is often offset by recovered GST credits and time saved.
Can a BAS agent fix past mistakes?
Yes. Registered BAS agents can lodge amended BAS statements and negotiate with the ATO if needed.
📍 Conclusion: Get BAS Help Before the ATO Gets Involved
Your BAS is not something to take lightly. Missing deadlines, reporting errors, and incorrect GST setup can all lead to serious financial consequences.
A qualified BAS accountant:
- Lodges your BAS on time
- Maximises your deductions
- Minimises ATO scrutiny
- Saves you hours of frustration
Don’t wait for the ATO to send a letter. Take control of your compliance today.
🔗 Visit Finistry.com.au to search for verified, local BAS accountants who can help your business stay compliant and efficient every quarter.
Need help with your BAS?
Search Finistry.com.au to find registered BAS accountants who understand small business and can give you peace of mind today.
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