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Simpler BAS

The ATO are shortly about to reduce the amount of information that needs to be disclosed on business activity statements (BAS) as part of an initiative to simplify GST reporting.

From 1 July 2017, Simpler BAS will be the default GST reporting method for small businesses (including not-for-profits) with a GST annual turnover of less than $10 million and only total sales, GST on sales and GST on purchases will need to be reported.

For more information, visit the ATO website.

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