The BAS has been designed to provide one statement for most taxes and allows for the offset of the different taxes in a period. It is also used for reporting pay-as-you-go [PAYG] installments, company tax installments and fringe benefit tax [FBT] installments.

Once registered for GST and in possession of an ABN, it is necessary to complete GST returns, which are included in the BAS.

Returns are completed quarterly or monthly. Monthly returns are compulsory for bodies with a turnover in excess of $20 million.

GST can be accounted for on a cash basis or an accruals basis (which mirrors general accounting practise). Using a cash basis is optional if your turnover is less than $1 million or if you are a charitable organization.

The return should be lodged and any GST due paid to the ATO by the 21st day after the end of the tax period for monthly periods and by the 28th day after the end of the tax period for quarterly periods..

Flinders University is a large remitter and is therefore required to complete a BAS monthly and the accruals basis is used.