From 1 July 2017, ATO is introducing Simpler BAS to make GST bookkeeping and reporting easier. It will reduce the amount of GST information needed in the Business Activity Statement and make bookkeeping simpler. Simpler BAS will be the default GST reporting method for all small business.
Under Simpler BAS, small business will only need to report total sales and GST on sales and purchases. This will make it simpler and quicker for them to classify transactions when they are doing their bookkeeping, and preparing and lodging their BAS.
