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Making a mistake on your Business Activity Statement (BAS) can feel stressful, especially knowing that the ATO is involved. But rest assured you’re not the only one who’s been there. BAS mistakes are really common, and even the most organised business owners slip up from time to time. The good news is that the ATO understands this and they have processes in place to help you fix mistakes. Acting promptly can save you time, money, and stress.
This article will explain common BAS errors, the ATO’s stance on honest mistakes, and exactly how to correct BAS submissions. We’ll cover step-by-step instructions, when to revise or adjust a BAS, and tips to prevent future errors.
BAS mistakes happen more often than you might think, and you’re definitely not the only one who’s run into them. The good news is that these mistakes are common, and understanding where they usually happen is the first step in learning how to fix them.
One of the most common issues is GST miscalculations such as adding or deducting the wrong amount or forgetting to include certain transactions. These small slips can easily throw your totals out. Another area where errors often occur is reporting periods. GST or PAYG amounts might be reported for the wrong quarter, which can cause discrepancies and trigger ATO follow-ups.
Payroll is another common source of errors—miscalculations in employee tax or super contributions can also lead to mistakes on your BAS. It’s also easy to miss small transactions or accidentally record the same transaction twice, especially if you’re juggling lots of invoices and receipts.
The ATO knows that mistakes can happen, and they generally treat honest errors very differently from deliberate non-compliance. If you spot a BAS error and voluntarily disclose it, there’s often a good chance you can avoid penalties altogether.
Penalties are more likely when errors are serious, repeated, or appear to be due to negligence. Acting quickly and lodging a correction as soon as you notice the mistake gives you the best chance of minimising interest and avoiding unnecessary penalties.
Review your BAS and find the incorrect figures. Check invoices, receipts, and payroll entries.
Decide if the error affects GST, PAYG, or another part of your BAS. Understanding the type of mistake will guide your next steps.
Some errors are minor and can be corrected in your next BAS. Others require a formal BAS revision Australia.
Access the portal to submit corrections, or ask your BAS agent to handle the process.
Lodging revised BAS or completing a BAS amendment form ensures the ATO has accurate records. Include the corrected amounts and any relevant notes.
The best way to fix a BAS mistake really depends on the size and timing of the error. Small slip-ups such as rounding differences or a forgotten transaction are usually the easiest to handle. In most cases, you can simply make the adjustment in your next BAS, and there’s no need for a complicated process.
For bigger mistakes, though, you might need to lodge a revised BAS so the ATO has the correct records and your changes are properly documented.
If your GST turnover is under $20 million, you generally have 4 years from the original BAS due date. For businesses with turnover of $20 million or more, the limit is 18 months.
After submission, the ATO processes your BAS correction. This can take a few days or longer depending on complexity. You will receive confirmation once the BAS revision or adjustment is accepted. Occasionally, the ATO may follow up with questions or request additional information.
Even after submitting, it’s wise to watch for any penalties or interest that may arise. Keeping accurate records and acting promptly usually reduces the risk of ATO penalty for BAS mistakes.
Sometimes, a little extra help goes a long way. If things get tricky, mistakes keep popping up, or you’re under audit, calling a professional can make your life easier. A good BAS agent can sort out errors, lodge amendments, and deal with the ATO for you. Check out Darcy Services BAS Assistance or call us on 1300 728 875.
Fixing BAS errors isn’t the end of the world. Mistakes happen to everyone. The key is to act quickly and stay on top of things. The sooner you tackle the problem, the easier it is to fix, and the less stressful it feels. Staying proactive can save you time, hassle, and even penalties down the track.
You can submit a BAS revision or adjustment, depending on the type and extent of the mistake. Acting promptly helps reduce the risk of penalties and keeps your records accurate.
If you notice an error, you can lodge a BAS correction either through the ATO’s Business Portal or with the help of your BAS agent. Getting it sorted quickly can save you a lot of stress later.
Log in to the Business Portal, select the relevant BAS period, and follow the prompts to lodge a revised BAS. Make sure to include all corrected amounts and details so the ATO has the full, accurate picture.
Generally, you can revise BAS for errors within two years. It’s always a good idea to check the latest ATO guidelines to confirm exact time limits.
