The ATO has notified taxpayers that, from 19 January 2017, newly registered small businesses have the option to report less GST information on their business activity statement (BAS)
.Therefore, if you plan to register for GST after receiving this Update, we can help you access the reporting benefits of the simpler BAS early.
Editor: From 1 July 2017, small businesses generally will only need to report GST on sales, GST on purchases, and Total sales on their BAS.
**Disclaimer: The information is sourced through NTAA**
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Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their particular circumstances.