Your first year in business: GST, BAS, PAYG, super and insurance, month by month (2026–27)
What a new Australian business has to do, and when, in its first year – from the registrations before you trade to the first BAS, the first wage, super on each payday and the first tax return. Dates for 2026–27.
Your first year in business follows a fairly fixed pattern: register before you trade, lodge a BAS every quarter if you are registered for GST, register for PAYG withholding and workers compensation before your first employee starts, pay super on each payday, and lodge your first tax return after 30 June. Here is that year laid out in order, with the dates that apply for 2026–27.
This is the timeline. For the full checklist behind it – structure, name, licences and the year-round calendar – see our business set-up guide.
Quarterly BAS, 2026–27
Super
GST
Before you trade
- Choose the structure. Sole trader, company, trust or partnership – the decision that is expensive to undo. Business structuring explains the trade-offs.
- Get an ABN. Free from the Australian Business Register. A company registers with ASIC first and applies for its ABN afterwards.
- Decide on GST. You must register once your GST turnover reaches $75,000, or if you expect it to in your first year. Rideshare drivers register from day one. Below the threshold you can register voluntarily, but generally have to stay registered for at least 12 months. See the GST registration threshold.
- Open a business bank account, and a second one to hold the GST and tax you will owe.
- Insurance. Public liability and professional indemnity are not compulsory in most industries, but clients and landlords increasingly ask for them before they sign.
Month 1: set up the books
Pick your accounting software and connect the bank feed from the first transaction. Keep every receipt. If you are registered for GST, every sale now carries GST that belongs to the ATO, not to you – put it aside as it comes in.
Buying equipment? The $20,000 instant asset write-off is permanent from 1 July 2026: a business with turnover under $10 million can generally deduct an eligible asset costing less than $20,000 straight away.
Before your first employee starts
The first hire changes your obligations more than anything else in the year.
- PAYG withholding. Register before you first make a payment you have to withhold from – before the first pay run, not after it.
- Workers compensation. Compulsory before your first worker starts. It is state-based – icare in NSW.
- Pay rates. The National Minimum Wage is $26.44 an hour from 1 July 2026, and most employees are covered by an award with higher rates.
- Single Touch Payroll. Each pay run is reported to the ATO through your payroll software.
- Employee or contractor? It is not a matter of what the contract calls them. Get it wrong and you back-pay super and tax. See employee vs contractor.
Every payday: super
Since 1 July 2026, super is paid with wages, not quarterly. The superannuation guarantee is 12% of qualifying earnings, and the payment must reach the employee's fund within 7 business days of each payday. The Small Business Super Clearing House closed on 1 July 2026, so you need a payroll system or clearing house that can pay on that cycle. Our Payday Super checklist covers the set-up.
Each quarter: the BAS
If you are registered for GST, or withhold PAYG from wages, you lodge a Business Activity Statement. For 2026–27 the quarterly due dates are:
| Quarter | Due (lodging yourself) | Due (through a registered agent, lodged online) |
|---|---|---|
| July – September 2026 | 28 October 2026 | 25 November 2026 |
| October – December 2026 | 28 February 2027 | 28 February 2027 |
| January – March 2027 | 28 April 2027 | 26 May 2027 |
| April – June 2027 | 28 July 2027 | 25 August 2027 |
A nil BAS still has to be lodged. More on monthly lodgers and the agent dates in BAS due dates.
After 30 June: the first tax return
Your first financial year ends on 30 June 2027. A sole trader reports the business in their own tax return; a company, trust or partnership lodges its own. Nothing was withheld from business income, so the tax on your first year's profit arrives in one bill – which is why the second account matters.
PAYG instalments come next. Once your return shows business income, the ATO may put you into PAYG instalments: tax paid quarterly on the same BAS, towards the following year's bill. It will notify you. See PAYG instalments.
Common questions
When is my first BAS due?
It depends on when your GST registration starts. A business registered from July 2026 lodges its first quarterly BAS by 28 October 2026, or later if a registered agent lodges it.
Do I have to pay super for myself as a sole trader?
No – the superannuation guarantee applies to employees, not to a sole trader's own drawings. Contributing for yourself is voluntary, though often worth doing. A company director who is paid a wage is an employee of the company.
Do I need workers compensation if I have no employees?
Not usually as a sole trader with no workers, though the rules vary by state and by who counts as a worker. It becomes compulsory before your first worker starts.
Can you set all this up for me online?
Yes. We work with new businesses online anywhere in Australia, and in person in Bondi Junction.
How we can help
We can set up your business and look after the registrations, the books and your BAS and tax return, so none of the dates above arrive as a surprise. New clients: get in touch or call (02) 9386 0500.