Simpler BAS offer for new small businesses
If you are a new small business, the ATO are keen for you to know that you can start using the simpler BAS ahead of the full implementation on 1 July.
To start reporting GST using the simpler BAS, you need to have:
- Started your business and registered for GST on or after 19 January
- An annual turnover of less than $2 million.
With the simpler BAS, you only need to report:
- GST on sales
- GST on purchases
- Total sales
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