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Re: BAS question

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Newbie

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Hello,

 

I'm running a Startup company, but we've yet to incur any losses (besides the ASIC fee) and haven't made any revenue. We have not yet registered for GST as we are still developing our product. Thus far, we have had no real business activity, but I was wondering if I still needed to lodge a BAS. 

 

I have logged into the Business Portal on the ATO website via MyGov, and under the BAS section, it says there's nothing to lodge. Does this seem correct, or do I need to find some sort of 'non-lodgement' form to send through?  

 

Also, same thing for our annual tax return. I can't seem to find the Company 'Non-lodgement' form, could someone please point me in the right direction?

 

Kind regards,

 

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ATO Certified

Devotee

Replies 2

Hi @Ghazarios


Welcome to the ATO online community

Its great to read that you are using are online services :-)

Firstly I will answer your question in regards to lodging a BAS, You only need to lodge a BAS if you are registered for a reportable role then you would need to lodge. This page is very helpful https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/ when you are registered for reporting roles.


In regards to the company tax return,

The following companies are required to lodge a return:

  • every resident company which derives $1 or more of assessable income from any source
  • every non-resident company which derives $1 or more of Australian sourced income
  • companies that are carrying forward losses that exceed $1,000 to the following year must lodge a tax return for the prior financial year, even if no assessable income has been derived in that financial year.

customers can provide a non-lodgment advice via the phone where eligible or write a letter to the ATO.

Written requests should include the:

  • Business name
  • TFN or ABN 
  • Postal address
  • Contact telephone number 
  • The reason the return is not required
  • The year/s requested, and
  • The signature of a person authorised to make the declaration.

Completed forms mailed from:

  • Within Australia should be sent to:

Australian Taxation Office GPO Box 9845 IN YOUR CAPITAL CITY ( The address must appear exactly as shown.  Customers must not replace 'In your capital city' with their capital city or enter a postcode.)

 

I recommend checking out this page https://www.ato.gov.au/Business/Starting-your-own-business/ also https://www.business.gov.au/info/plan-and-start, very helpful information


Regards, Tracey

 

Please note this is my personal view; I’m an ATO employee who chooses to help out here in my own time
3 REPLIES
Highlighted

Best answer

ATO Certified

Devotee

Replies 2

Hi @Ghazarios


Welcome to the ATO online community

Its great to read that you are using are online services :-)

Firstly I will answer your question in regards to lodging a BAS, You only need to lodge a BAS if you are registered for a reportable role then you would need to lodge. This page is very helpful https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/ when you are registered for reporting roles.


In regards to the company tax return,

The following companies are required to lodge a return:

  • every resident company which derives $1 or more of assessable income from any source
  • every non-resident company which derives $1 or more of Australian sourced income
  • companies that are carrying forward losses that exceed $1,000 to the following year must lodge a tax return for the prior financial year, even if no assessable income has been derived in that financial year.

customers can provide a non-lodgment advice via the phone where eligible or write a letter to the ATO.

Written requests should include the:

  • Business name
  • TFN or ABN 
  • Postal address
  • Contact telephone number 
  • The reason the return is not required
  • The year/s requested, and
  • The signature of a person authorised to make the declaration.

Completed forms mailed from:

  • Within Australia should be sent to:

Australian Taxation Office GPO Box 9845 IN YOUR CAPITAL CITY ( The address must appear exactly as shown.  Customers must not replace 'In your capital city' with their capital city or enter a postcode.)

 

I recommend checking out this page https://www.ato.gov.au/Business/Starting-your-own-business/ also https://www.business.gov.au/info/plan-and-start, very helpful information


Regards, Tracey

 

Please note this is my personal view; I’m an ATO employee who chooses to help out here in my own time

Newbie

Replies 1

Dear Tracey,

 

Thank you so much! Could you possibly provide me with the phone number for notifying of a 'Return not necessary'? I can't seem to find that number (unless it's just the normal ATO phone line).

 

Kind regards,

 

Sam

Devotee

Replies 0

Hi Sam,

 

Glad I was able to help :-)

Contact number is - 13 28 61 - 8am–6pm, Monday–Friday 

 

Regards, Tracey

 

Please note this is my personal view; I’m an ATO employee who chooses to help out here in my own time
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