Goods and services tax (GST) reporting on the business activity statement (BAS) is getting easier for small business.  This is due to a change to GST reporting called Simpler BAS. From 1 July 2017 small businesses with an annual GST turnover of less than $10 million will have less GST information to report on their BAS. The only GST information required will be: G1 Total sales 1A GST on sales 1B GST on purchases The following GST information will no longer be required: G2 Export sales G3 GST-free sales G10 Capital purchases G11 Non-capital purchases The GST cycle that you report on (monthly, quarterly … Continue reading Simpler BAS For Small Businesses From 1 July 2017