Simpler BAS reporting from 1st July 2017

BAS, Business Activity Statement

June 8, 2017

From 1st July, the only GST information required on your BAS will be:

The following GST information will no longer be required:

If your annual GST turnover is less than $10 million, you will be transitioned to Simpler BAS reporting from 1 July 2017.

Simpler BAS will not affect how other taxes are reported (eg PAYG income tax instalments or PAYG tax withheld), or how often you submit your BAS.

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

Subject to eligibility, small businesses registering from 19 January 2017 have the option to use Simpler BAS immediately.

If you have any questions about these changes, please contact your accountant.