Lodge and pay tax

Tax return

Your business needs to lodge a tax return with the Australian Taxation Office (ATO) each year. You need to do this even if you make a loss or don't meet the tax threshold.

The type of tax return you need to lodge depends on your business structure:

• Sole trader – you lodge an individual tax return. Include all your business income on your tax return using a separate business schedule. You don’t need to lodge a separate tax return for your business.
• Partnership – your partnership has its own tax file number (TFN) but doesn't pay income tax on the profit it earns. Each partner reports their share of the partnership income in their own tax return. Your partnership must also lodge a separate partnership return under its own TFN.
• Company – a company is a separate legal entity. You must lodge a company tax return and pay tax on the company’s income. If you’re a director, you need to lodge your own individual tax return as well.
• Trust – a trust has its own TFN and must lodge a trust income tax return.

If you run a not-for-profit organisation, you may be eligible for tax concessions. Learn about tax concessions for NFP organisations on the ATO website.

Business activity statement (BAS)

If your business is registered for goods and services tax (GST), you need to lodge a BAS with the ATO.

A BAS allows you to report and pay for certain taxes including:

• GST
• pay as you go (PAYG) withholding
• PAYG instalments
• fringe benefits tax
• luxury car tax
• wine equalisation tax.

Depending on how complex your business and taxes are, you can either:

• lodge your own tax return or BAS
• get a professional to lodge it for you.

You can lodge your tax return:

• through a registered tax agent
• online if you're a sole trader
• with Standard Business Reporting enabled software if you're a company, trust or partnership
• by mail.

You can lodge your BAS:

• through a registered tax or BAS agent
• online
• by phone (only if you have nothing to report for the period – a ‘nil’ BAS)
• by mail.

Unless you lodge through a registered tax agent, tax returns are due by 31 October each year for:

• sole traders
• partnerships
• trusts.

Company returns are generally due by 28 February each year. If you lodge through a registered tax agent, they’ll tell you when they will lodge your tax return.

BAS due dates are different. They can be quarterly, monthly or yearly. When you register for an Australian Business Number (ABN) and GST, the ATO will send you a BAS when it’s time to lodge.

See the due dates for lodging and paying your BAS on the ATO website.

The ATO has calculators and tools and online services to help you manage and pay your taxes.

The quickest way to pay is with BPAY or through online services.

See your options for paying on the ATO website.

If you have employees, you need to report tax and super to the ATO using Single Touch Payroll (STP).

With STP-enabled software, you report your payroll information each time you pay your employees.

The ATO has extended STP reporting (known as STP Phase 2).

Learn more about Single Touch Payroll and STP Phase 2 on the ATO website.

Contact the ATO to tell them as soon as you can. Learn more about what to do if you can't lodge or pay on time on the ATO website.