11/06/2026
Have you ever reached BAS time and wondered where the money will come from?
One common mistake is treating the GST collected from customers as normal business income. It may be sitting in your bank account, but part of it will need to be paid to the ATO.
A simple system can help:
• Regularly move the GST portion into a separate account
• Keep your supplier tax invoices
• Record your income and expenses correctly
• Review your expected BAS amount before it is due
You may also be able to claim GST credits on eligible business purchases, which can reduce the net GST you need to pay.
Good GST management is not just about compliance. It also protects your business cash flow.
Need help setting up a better GST or BAS process? Email [email protected] or call Angkor CA on 1300 888 168.
General information only. Your GST position will depend on your circumstances and accounting method.