New Simpler BAS from 1 July 2017
As per New Simplier BAS
The ATO have simplified GST reporting for small business by reducing the amount of GST information required in business activity statements (BAS).
From 1 July 2017, eligible small businesses will automatically transfer to Simpler BAS. With Simpler BAS, you only need to report the following GST information:
- G1 Total sales
- 1A GST on sales
- 1B GST on purchases
- 1H GST instalments (for your instalment clients).
There are no changes to reporting frequency or how other taxes are reported on the BAS.
Please contact TNR for more information and to see if you are eligible.