If you are a new small business, you can start using the simpler BAS ahead of the full implementation date of 1 July 2017.
To start reporting GST using the simpler BAS, you need to have:
- Started your business and registered for GST on or after 19 January 2017
- 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
Why not take advantage of this option and simplify your GST bookkeeping and reporting before simpler BAS becomes the default GST reporting method for all small businesses.
Next steps:
- See Simpler BAS to find out how to take advantage of this offer.
For all your BAS assistance, give Northern Beaches Bookkeeping Solutions a call.