ATO simplifies GST bookkeeping for small business

Simpler BAS is now the default GST reporting method for all small businesses with a GST turnover of less than $10 million.

The ATO have been working with digital service providers of accounting software to make classifying GST easier.

New accounting software settings have been developed which will save you time and make it easier for you to capture and classify your invoices. Choosing the right GST tax code when entering an invoice is now closer to a simple question of, “Does the sale or purchase have GST or not?”

What do you need to do?

To find out how Simpler BAS can save you time contact the digital service provider responsible for your accounting software or talk to your registered tax or BAS agent or bookkeeper.

If your bookkeeping is manual and your business is growing, you may want to check out the latest time saving digital accounting and BAS online lodgement solutions.

How to lodge your BAS

The ATO provide a variety of ways for you to lodge your BAS:

Lodge online

You can lodge your BAS online:

  • using the ATO’s online services for individuals and sole traders (you will need a myGov account linked to the ATO)
  • through the ATO’s Business Portal
  • directly from your Standard Business Reporting (SBR) enabled software.

The method you use to lodge your BAS will determine how it will be delivered in future. For example, if you lodge electronically through online services for individuals, your next statement will be delivered to you through online services for individuals.

You will be sent a notification to advise you when your activity statement is available.

Lodge through your registered tax or BAS agent

If you have a tax or BAS agent they can lodge, vary, and pay on your behalf through their preferred electronic channel. Tax and BAS agents can also view your activity statements that have been sent to your myGov Inbox.

You can access your activity statement through the ATO’s online services for individuals or their Business Portal even if your agent is managing them on your behalf.

Lodge by phone (for “nil” business activity statements only)

If you have nothing to report, you must lodge a nil business activity statement. You can lodge your nil BAS over the phone by calling 13 72 26. It’s an automated service and you can call anytime (24 hours a day, seven days a week).

Lodge by mail

Post your original, completed BAS, using the pre-addressed envelope provided in your BAS package.

If you misplace the envelope, you can send your BAS to:

  • Australian Taxation Office
  • Locked Bag 1936
  • ALBURY NSW 2460

If you’ve lost or haven’t received your paper BAS, you can obtain a copy by phoning the ATO on 13 28 66.

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