Simpler Business Activity Statement (BAS) for small businesses from 1 July 2017
A simpler BAS will become the default GST reporting method for all small businesses from 1 July 2017. This measure was originally announced in the 2016/17 Federal Budget and is designed to reduce GST compliance costs for small businesses.
Under the new reporting requirements:
“From 1 July 2017 eligible small businesses could use a simplified BAS reporting form that contained only the relevant labels they needed to complete.”
- the BAS will only need to report the following information:
- GST on sales (1A)
- GST on purchases (1B), and
- Total sales (G1)
- transactions will only need to be classified with a simple “yes” or “no” for GST
- the BAS will no longer need to report the following information:
- Export sales (G2)
- Other GST-free sales (G3)
- Capital purchases (G10), and
- Non-capital purchases (G11), and
- the GST calculation worksheet and associated suite of GST software tax codes will no longer need to be supported
If you have any questions or enquires, please contact:
Norman Ruan
Accountant
T: 02 9984 7774
E: normanr@northadvisory.com.au
Martin van der Saag
Director
T: 02 9984 7774
E: martinv@northadvisory.com.au
“The objective of the simpler BAS was to reduce compliance costs, cut down on unnecessary reporting and make tax obligations easier to manage for small business owners.”
About the author
Marius Fourie - Director & Business Advisor
As Director and Business Advisor, Marius uses his accounting expertise and empathetic skills to work directly with business owners and help them feel at ease with their finances.
Marius saw a common need in clients that just wasn’t being met by accounting providers.
That need was for clear, open communication and streamlined accounting services that didn’t come padded out with any unnecessary features.
Business owners just don’t have time to compare different accounting firms to see which one has the best packages with the best inclusions (many of which they would pay for but never use).
Key Takeaways
Simpler BAS was introduced to reduce the administrative burden for small businesses.
By showing only the relevant reporting labels, the form becomes quicker to complete and easier to understand.
Eligibility is based on the business’s tax profile, including turnover and reporting obligations.
Only those meeting the criteria are offered the reduced set of labels on their BAS.
The simpler BAS retains all essential compliance elements — nothing changes in terms of tax payable.
Businesses must still calculate and remit the correct amounts; the simplification relates only to how information is presented.
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Frequently Asked Questions
What is the simpler BAS reporting introduced from 1 July 2017?
It is a tailored Business Activity Statement format for eligible small businesses that shows only the reporting labels they actually need, eliminating fields that do not apply to their business activities.
Who is eligible to use the simplified BAS?
Small businesses that meet the Australian Taxation Office’s eligibility criteria — generally based on turnover and the types of tax obligations they have — can opt in to simplify how their BAS is displayed.
What types of reporting labels are included in the simpler BAS?
The simplified BAS includes only key labels relevant to the business’s obligations, such as GST collected and paid, PAYG instalments (if applicable), and other core amounts, rather than all possible reporting fields.
Does using the simpler BAS change what tax must be paid?
No — it does not change the actual tax liabilities. Businesses still must report and pay all tax obligations correctly; the simpler form just reduces the number of fields they must complete.
How does a small business start using the simpler BAS?
Businesses that qualify can advise the tax office (often through their tax agent) that they want the simplified BAS applied to their reporting, and the relevant form then appears when lodging.
What is the “Simpler BAS” for small businesses?
It’s a simplified GST reporting method designed to reduce compliance costs for small businesses.
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