The federal government has pledged to simplify Business Activity Statement (BAS) reporting requirements for small businesses, with a trial of “simpler reporting arrangements” to commence on July 1.
While there was limited information about how reporting arrangements will be simplified in the budget papers, Small Business Minister Kelly O’Dwyer said in a statement the arrangements will mean businesses will spend less time “form filling”.
According to the statement, from July 1, 2017, businesses with less than $10 million in annual turnover will be able to “easily classify transactions and prepare and lodge their BAS”.
ABOUT THE AUTHOR
News Editor
Eloise Keating is the news editor of SmartCompany and Inc Australia. Prior to joining SmartCompany, Eloise was news editor at Books+Publishing, the trade press for the Australian book industry. Eloise has degrees in media and communications, marketing and business management, and political science. You can follow her on Twitter at @ellykeating.
COMMENTS
SmartCompany is committed to hosting lively discussions. Help us keep the conversation useful, interesting and welcoming. We aim to publish comments quickly in the interest of promoting robust conversation, but we’re a small team and we deploy filters to protect against legal risk. Occasionally your comment may be held up while it is being reviewed, but we’re working as fast as we can to keep the conversation rolling.
The SmartCompany comment section is members-only content. Please subscribe to leave a comment.
The SmartCompany comment section is members-only content. Please login to leave a comment.