The ATO is reducing red tape for small businesses turning over less than $10m when it comes to reporting your GST obligations on your Business Activity Statement. As of 1 July 2017 you will now only need to report.
G1 – Total Sales
1A – GST on Sales
1B – GST on Purchases
This removes the need to report on various other labels on the BAS.
Please see below from the ATO for further information:
We provide accounting and wealth management services to clients in Woodend, Gisborne and Macedon Ranges areas within Victoria Australia.
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