As 30 June approaches, EOFY prep ramps up—and for many small businesses, Business Activity Statement (BAS) lodgement is one of the most critical tasks on the checklist. Lodging your final BAS for the financial year isn’t just another quarterly obligation—it’s your chance to ensure your records are complete, compliant, and ready for tax time.
Submitting a rushed or inaccurate BAS can lead to compliance issues, ATO scrutiny, or missed deductions. But with a clear checklist and the proper guidance, you can lodge confidently and accurately. You need to review here before hitting “submit” on your EOFY BAS.
✅ What Does Your EOFY BAS Cover?
Your BAS summarises your business’s tax obligations to the Australian Taxation Office, including:
- Goods and Services Tax (GST)
- Pay As You Go (PAYG) Withholding
- PAYG Instalments
- Other taxes, such as fringe benefits tax (FBT) instalments if applicable
EOFY BAS (typically for the April–June quarter) is critical because it captures your business’s financial activity up to year-end. Accuracy here can directly affect your EOFY tax reporting.
🔍 What to Check Before You Lodge
1. GST Reconciliation
Before lodging, make sure:
- All income and expenses have been correctly classified as GST-inclusive or GST-free.
- Any GST credits are only claimed where valid tax invoices are available.
- All bank transactions and receipts have been entered and matched.
- Adjustments have been made for bad debts, returned goods, or price changes.
Pro tip: Many BAS errors stem from duplicate entries or missed transactions. Run a full GST reconciliation report from your accounting software and compare it with your ledger.
2. PAYG Withholding
If you have employees, you must report and pay PAYG withholding amounts deducted from their wages. Before lodging:
- Confirm all pay runs have been finalised for the quarter.
- Reconcile PAYG withholding totals against your payroll summary report.
- Make sure superannuation contributions are paid on time (especially if you’re claiming a tax deduction for them this year).
This is a great time to double-check that STP (Single Touch Payroll) data matches what’s being reported in your BAS.
3. PAYG Instalments
For businesses paying PAYG instalments, your BAS will include a section for your pre-paid tax instalments based on ATO calculations.
Before accepting the pre-filled amount:
- Review your year-to-date profit figures.
- Decide whether you should vary your instalment amount if your income has significantly changed, up or down.
Remember: Overpaying means waiting for a refund, while underpaying can result in interest or penalties.
4. Common BAS Errors to Avoid
- Claiming GST on private or personal expenses
- Missing capital purchases or incorrectly categorising them
- Incorrect GST codes in your software
- Forgetting to include manual or cash transactions
- Ignoring the ATO payment or refund history that may impact your balance
🧾 EOFY BAS Checklist
- Reconcile bank accounts and credit cards.
- Review and finalise all income and expense entries.
- Match the GST payable and credits to the supporting invoice.
- Reconcile payroll and PAYG withholding.
- Review PAYG instalment obligation.s
- Run final BAS reports and compare with accounting software.
- Lodge via the ATO portal or your BAS agent
💬 Let Katia Help You Lodge with Confidence
At EOFY, every detail counts—and missing something in your BAS could affect your tax outcome. Whether you need a second pair of eyes or full support with your lodgement, Sudoku Bookkeeping is here to help.
Katia Chehade, our experienced BAS agent and small business bookkeeping expert, can guide you through your EOFY BAS step-by-step, ensuring accuracy, compliance, and peace of mind.
📩 Book a session with Katia today.
Don’t leave your EOFY BAS to chance—get expert help and confidently submit.
EOFY doesn’t have to be stressful when you have the proper support. Let’s wrap up the year strong, together!