New Simpler BAS on the way
New Simpler BAS on the way
The ATO has been working with small businesses, tax professionals, industry associations and software providers on ways to deliver a simpler business activity statement (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); and
- Total sales (G1).
This will simplify account set-up, record keeping, BAS preparation and lodgement for agents and their clients.
They will begin user testing from 1 July 2016 and it is intended that a simpler BAS will be the standard option for all small business from 1 July 2017.
Ref: ATO website 5 May 2016
Bottrell Business Consultants Pty Ltd – Chartered Accountants and Business Advisors.
The Bottrell group incorporates Bottrell Business Consultants, Bottrell Accounting & Taxation, Maitland Accounting & Taxation, East Maitland Accounting Services and Mobile Bookkeeping & Recruitment.
Our group of businesses & links include the following companies (& our websites);-
- Bottrell Accounting & Taxation – Visit out website
- Bottrel Business Consultants Pty Ltd – Visit our website
- Maitland Accounting & Taxation – Visit our website
- East Maitland Accounting Services – Visit our website
- Mobile Bookkeeping & Recruitment – Visit our website
www.bottrellaccounting.com.au or check us out on Facebook, Twitter, Instagram or LinkedIn
Offices – East Maitland | Newcastle | Sydney | Melbourne | Brisbane | Gold Coast
Comments are closed.