10 July 2017
If you’re a small business with a GST turnover of less than $10 million, Simpler BAS is now your GST reporting method. This means you only need to report:
If you use accounting software, you can keep your original detailed GST classifications, or choose the Simpler BAS bookkeeping settings with reduced codes. It’s completely optional and the choice is yours.
Paper BAS forms haven't changed, just leave the sections blank where information is no longer needed.
We’ve also developed a Simpler BAS GST bookkeeping guide. This helps with the classification of sales and purchases, and explains common and also misunderstood GST transactions.
You can talk to your registered tax or BAS agent for more information and advice.
Find out about:
Small business owners talking about the benefits of Simpler BAS and how it saved them time and money.
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