Simpler BAS from 1 July 2017

The ATO has been working with small businesses, tax professionals, industry associations and software providers on ways to deliver a simpler BAS to make GST record keeping easier and less costly.

To achieve this, several GST labels will be removed from the BAS with small businesses only required to report:

  • GST on sales (1A)
  • GST on purchases (1B)
  • Total sales (G1).

These changes will simplify account set-up, record keeping, BAS preparation and lodgment for taxpayers. The ATO said it will begin user testing from 1 July 2016 and a simpler BAS will be the standard option for all small business from 1 July 2017.

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