• 12.3.a. When completing the business activity statement (BAS), why is it necessary to show adjustments relating to the current and earlier tax periods differently?

    Non-interpretative - straight application of the law.

    The GST legislation states that adjustment events in the current tax period do not give rise to adjustments; however, adjustment events outside the current period give rise to adjustments to GST previously payable and must be reported separately.

      Last modified: 07 Jun 2012QC 16411