Glossary

Business activity statement (BAS)

What a BAS is, and why recent statements are a standard document lenders request for low-doc and ATO-related lending.

A business activity statement, or BAS, is the periodic form businesses lodge with the Australian Taxation Office reporting GST, PAYG withholding and other tax obligations, usually quarterly. Because a BAS is lodged regularly and reflects real trading activity, lenders commonly request recent BAS statements as an alternative to full financial statements when assessing low-doc or alt-doc facilities, using turnover reported on the BAS as a proxy for serviceability. A pattern of late-lodged or amended BAS statements, or one showing declining turnover, is something an underwriter will typically ask about directly rather than treat as disqualifying on its own. For ATO debt refinance specifically, outstanding BAS liabilities and the lodgement history behind them are central to understanding the size and character of the debt being refinanced.

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Low-doc commercial loans · Alt-doc · ATO payment plan

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