• Attention


    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    Correcting mistakes on previous or current BAS

    Where the net effect of mistakes from one or more of your previous BAS exceeds your value limit, you must revise those original BAS. In some cases, each of your original BAS must be revised. In other cases, you may only need to revise some of your previous BAS for you to bring the net effect of your remaining mistakes below the value limit.

    Example 7: Correcting mistakes exceeding the value limits

    Amy operates an agricultural business with an annual turnover of $1 million. She incorrectly claimed $11,000 in fuel tax credits on her previous two quarterly BAS.
    The breakdown of her mistakes is:
    • quarter ended 31 March 2012 – $5,000
      • quarter ended 30 June 2012 – $6,000.
    Amy would like to correct the mistakes on her BAS for the quarter ended 30 September 2012 (her current BAS).
    The net value of the mistakes means that Amy’s fuel tax credit entitlement will be reduced. Therefore, she is subject to both the value and time limits. The time limit of six quarterly BAS has not been exceeded. However, her mistakes exceed the value limit of $5,000.
    As the value limit for the correction of mistakes on any BAS is $5,000, Amy can do either of the following:
    • correct each mistake on the original BAS in which the mistake occurred by revising each BAS
      • correct the $5,000 mistake on her BAS for the quarter ended 30 September 2012 (her current BAS) and revise her original BAS for the quarter ended 30 June 2012 for the $6,000 mistake – being the BAS on which the mistake occurred.
    The general interest charge is payable on any revision to her BAS for the tax periods ended 31 March 2012 and 30 June 2012.
    Further information

    You can request a BAS revision form:

    • electronically (provided you are registered to deal with us online) through the Business Portal
    • by using the electronic lodgment service (ELS) or the Tax Agent Portal through your tax agent
    • by phoning us on 13 28 66 between 8.00am and 6.00pm, Monday to Friday.
    End of further information
      Last modified: 23 Jul 2013QC 35869