If your ABN Sole Trading Business is not Registered for GST do you need to lodge a BAS? Does anything need to be done or reported to the ATO before doing your tax return? What if you haven't earned anything under your ABN in that financial year, do you still need to do anything before submitting tax return? Can I just take this to my accountant for my tax return?
Only lodge a BAS if you are registered for GST
How to lodge your BAS | Australian Taxation Office
Otherwise simply report business income or a business loss on tax return.
Hi, I have the same question as Stacey, but I was told last week by a business mentor in another state (who is a BAS agent) that all businesses have to lodge a BAS regardless of whether they are registered for GST or PAYGI and if the business income is nil to report it as all zeros.
I couldn't find this information on the ATO website when I looked 2 weeks ago.
Which advice is the correct one? Have to lodge BAS anyway or only if registered for GST and PAYGI?
My situation: I registered for an ABN last year (because a friend told me I needed one for an unrelated situation which turned out to be incorrect information) I kept the ABN because I had plans to start a business but I haven't launched yet. I'm currently in the Self Employment Assistance program and undertaking the training before starting mentoring. I am months and months away from even starting the business, let alone earning any income. When I lodged my personal tax return last year I didn't add any business income because I hadn't even started preparing to start the business. I'm confused as to what I'm supposed to do and I don't want to get in trouble.
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