Late BAS lodgement can result in a Failure to Lodge on time penalty. For small businesses (turnover under $1 million), the penalty is currently calculated at one penalty unit per 28-day period (or part thereof) that the BAS is overdue, up to a maximum of five penalty units. The penalty unit amount is set periodically (as at late 2024 it was $330 per unit). The ATO also charges General Interest Charge on unpaid amounts at a rate set quarterly. Check current penalty unit and interest rates on the ATO website, as these figures change over time.

Yes, eligible small businesses can instantly deduct assets costing under $20,000 until 30 June 2026, based on rules current as at 2024–25. To qualify, your aggregated annual turnover must generally be under $10 million, and the asset must first be used or installed ready for use between 1 July 2025 and 30 June 2026. Assets over $20,000 go into the depreciation pool instead. Rules can change; check the latest instant asset write-off guidance on the ATO website or with your tax adviser.

Small businesses withholding up to $25,000 annually generally pay PAYG withholding quarterly by the 28th of the month following each quarter. Medium withholders ($25,001 to $1 million) pay monthly by the 21st, while large withholders (over $1 million) must pay within 6–8 days electronically. Payment thresholds and due dates can change; confirm current PAYG withholding obligations on the ATO website.

Quarterly BAS lodgements are typically due on 28 October, 28 February, 28 April, and 28 July for the respective quarters. Monthly lodgers must generally submit by the 21st of the following month. Electronic lodgers may receive extensions for some quarterly returns. Due dates can vary; always check current BAS due dates on the ATO website.

Australian small businesses can generally claim deductions for operating expenses such as rent, utilities, wages, and supplies, plus the $20,000 instant asset write-off for eligible equipment purchased and first used or installed between 1 July 2025 and 30 June 2026 (subject to eligibility rules). Business travel, professional development, and home office expenses (business portion only) may also be deductible. Keep receipts and records to support all claims. Deduction rules change over time; check the ATO or your tax adviser for current guidance.