02/09/2026
Your Q1 BAS for this financial year is due 28 October. That is 81 days away. If you are self-employed, a sole trader, or running a small business, here is what you need to know right now.
The penalty unit just went up to $364 (indexed 1 July). A late BAS attracts one unit per 28 days, up to 5 units. That is $1,820 per overdue BAS. And GIC β the interest the ATO charges on outstanding amounts β is no longer tax-deductible.
The ATO's own advice: lodge on time even if you cannot pay. Then arrange a payment plan.
Need your BAS prepared and lodged properly? We are in Williams Landing. General information only β not personal tax advice. Come and talk to us about your situation.
Sources: ato.gov.au, Australian legislation