The BAS Breakdown 2026: GST & BAS Fundamentals

Start your BAS journey with the essentials on how GST operates, how to calculate it, and how to classify common transactions.

In this session, we cover:

• GST registration, registration thresholds and GST turnover

• How GST is collected and reported through the BAS system

• GST vs Tax

• Taxable, GST-free, input-taxed and BAS excluded

• Calculating GST from GST-inclusive and GST-exclusive amounts

• Cash vs Accruals

• Common examples: professional fees, residential and commercial rent, wages, interest, basic food and bank transfers

• PAYG instalments: ATO instalment rate vs fixed amount

• Practical applications: classify common business transactions and explain each classification