BAS Tax & Instant Tax Refunds in Australia: What You Need to Know

If you’re a small business owner or freelancer in Australia, you’re probably familiar with BAS tax (Business Activity Statement) and the importance of lodging it correctly. At the same time, if you’re an individual taxpayer, you might be looking for a tax refund on the spot through a registered tax agent. This blog covers both topics—how BAS works and how you can get a fast tax refund in Australia.

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What is BAS Tax in Australia?

The Business Activity Statement (BAS) is a form that businesses use to report and pay GST (Goods and Services Tax), PAYG (Pay As You Go) withholding tax, and other business-related taxes to the Australian Taxation Office (ATO).

Who Needs to Lodge a BAS?

If your business is registered for GST (earning $75,000 or more annually, or $150,000 for non-profits), you must lodge a BAS either:
✅ Monthly (if your turnover is over $20 million)
✅ Quarterly (if your turnover is below $20 million)
✅ Annually (only in special cases)

What’s Included in a BAS?
A typical BAS report includes:

✔ GST Collected & GST Credits – The tax you’ve collected from sales minus the GST you’ve paid on business expenses.
✔ PAYG Withholding – If you have employees, you need to report tax withheld from their wages.
✔ PAYG Instalments – Prepaid income tax if you’re a sole trader or business owner.
✔ Other Taxes – Includes fringe benefits tax (FBT) and luxury car tax (LCT), depending on your business.

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When is BAS Due?

The BAS lodgment due dates depend on your reporting cycle:

📆 Quarterly BAS:
● Q1 (July – Sep): Due 28 October

● Q2 (Oct – Dec): Due 28 February (extra time due to holidays)

● Q3 (Jan – Mar): Due 28 April

● Q4 (Apr – Jun): Due 28 July

Send queries via email and an accountant will call you.

📆 Monthly BAS: Due on the 21st of the following month.

If you lodge through a tax agent, you may get an extension on BAS deadlines.

Can You Get a Tax Refund on the Spot in Australia?

Yes! If you’re expecting a tax refund, some registered tax agents offer an instant tax refund service where they give you money on the spot, rather than waiting weeks for the ATO to process it.

How Does an Instant Tax Refund Work?
1. Visit a Registered Tax Agent – Find a tax agent who provides same-day refunds.

2. They Estimate Your Refund – The agent calculates how much refund you’re eligible for.

3. They Pay You Instantly – Instead of waiting for the ATO, the tax agent gives you your refund upfront.

4. The Agent Gets Paid When ATO Processes Your Return – Once the ATO sends the refund, the agent keeps a portion as their fee.

Send queries via email and an accountant will call you.

Who Should Use an Instant Refund Service?

✅ If you need cash urgently
✅ If you prefer not to wait weeks for the ATO
✅ If you’re confident your tax return is correct

Pros & Cons of Instant Tax Refunds

✔ Pros:
● Fast cash (usually within minutes)

● No waiting for the ATO

● Handled by professionals

✖ Cons:
● Fees apply – Agents charge a percentage of your refund

● Not available for complex tax returns

● Only for eligible taxpayers

Tax Refund On Spot will assist you all throughout the process call 1300 768 284 now!.

Final Tips: Lodging BAS & Getting Fast Tax Refunds

🔹 Use a tax agent – They can help maximize deductions and avoid errors.
🔹 Keep accurate records – This makes BAS lodgment easier and reduces audit risks.
🔹 Check for deductions – You may be eligible for tax deductions, reducing your payable tax.
🔹 Compare instant refund providers – Some charge higher fees than others.

Highly qualified accounting team will check your Tax return Twice

Need Help with BAS or a Tax Refund?

If you’re a business owner, working professional, or student looking for expert tax advice, consider speaking to a qualified tax agent. Whether you need BAS assistance or a tax refund on the spot, getting professional help ensures a stress-free tax season.