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  • Simpler BAS GST bookkeeping

    Simpler BAS helps you with your GST bookkeeping.

    • There are fewer complex GST classification codes, and your bookkeeping moves closer to a simple question of 'does it have GST or not?'
    • Purchases with both GST taxable and non-taxable items are easier to capture as a single bookkeeping entry.
    • There is no requirement to split purchases into capital and non-capital for GST reporting.
    • Set-up of accounting software and automation options is simpler.

    You may prefer detailed GST classifications for your GST bookkeeping. Even with Simpler BAS you may still choose to keep using your accounting software in its current format

    Your bookkeeping approach is a decision for you and your tax professional.

    No matter what bookkeeping approach you use, when you report under Simpler BAS, you only need to provide us with G1 Total sales, 1A GST on sales and 1B GST on purchases.

    Keeping records

    You still need to keep records such as tax invoices, as proof of any claims you make in your BAS and income tax return lodgements.

    Last modified: 30 Jun 2017QC 52116