Please note that GST reporting has been simplified 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.

The definition of a small business are those business entities with a turnover threshold of less than $10 million.

Should you have any queries, please contact this office.

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