Saving you time on your tax return
It's here! Now, if you've completed your BAS with Airtax, we'll put your sole trader income and expenses straight into your tax return. At the click of a button, your information will be imported, saving you valuable time on your tax return. It's that easy and you can always change the information in your tax return if you need to.
Follow these simple steps to get started.
- Complete your BAS for the financial year (include the last period, so we suggest you do your last BAS before you start your tax return). You don’t have to do all 4 quarters, but we’ll only import whichever periods you’ve done using Airtax into your tax return.
- From your dashboard, start your new income tax return. We’ll show you the BAS available to import into your tax return and you just need to click continue.
- We’ll open your income tax return and your BAS information (expenses and income) will be in there under the Sole Trader section (within the Income section).
Note: We apply the relevant calculations when we import data from your BAS so that the correct tax treatment is applied. Read more here about tax treatment in BAS and income tax returns here.
Do I have to have all 4 BAS for the financial period for you to import them to my income tax return?
No - as long as you have at least one you can choose to import to your income tax return
Where does the information go when it goes into my tax return?
We take the information from your income and expenses in your BAS and put it into the relevant fields in the Sole Trader section of your income tax return.
What if I have other BAS (which aren't in Airtax)?
That's ok. If you don't have all your previous BAS in Airtax, you can add it in manually (to the sole trader section) after you've imported the rest
Can I edit the information after I've imported from my BAS?
Yes, you can.
Why can't I see the income from my BAS in the gross income section of my tax return
This is because we can only fill in the information in the Sole Trader section of your tax return. Gross income could include income from employment so this is different from the information we import from your BAS.