GTG
MEDIA, JOBS & RESOURCES for the COMMON GOOD
NEWS  |  Leadership

Simpler BAS for Some NFP Organisations


Thursday, 5th May 2016 at 10:53 am
Lina Caneva, Editor
The Australian Taxation Office is implementing changes to address community concerns about the costs associated with goods and services tax (GST) record keeping.

Thursday, 5th May 2016
at 10:53 am
Lina Caneva, Editor


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
Simpler BAS for Some NFP Organisations
Thursday, 5th May 2016 at 10:53 am

The Australian Taxation Office is implementing changes to address community concerns about the costs associated with goods and services tax (GST) record keeping.

To reduce these costs the ATO said it was working on ways to make the business activity statement (BAS) simpler.

“The community has told us a reduction of the number of GST labels on the BAS will significantly reduce GST record keeping requirements,” the ATO said.

The ATO said this would benefit NFPs a number of ways, including a simplified account set-up, ongoing bookkeeping and BAS preparation, and reducing their record keeping costs.

“To ensure we get it right, we’re working with small businesses, industry associations, tax professionals and the accounting software industry, to conduct user testing on the simpler BAS solution,” the ATO said.

“The planned changes are scheduled to go live from 1 July 2017, when Simpler BAS will become the standard GST reporting option for all organisations with a turnover of less than $10 million.”


Lina Caneva  |  Editor  |  @ProBonoNews

Lina Caneva has been a journalist for more than 35 years, and Editor of Pro Bono Australia News since it was founded in 2000.


Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

Tags : ATO, BAS, GST, record keeping,

 Print

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

Your email address will not be published. Required fields are marked *



YOU MAY ALSO LIKE

Australians Are Giving Less

Wendy Williams

Thursday, 14th June 2018 at 8:00 am

Australian Gift Deductions Take a Great Leap Forward

Lina Caneva

Thursday, 12th October 2017 at 8:10 am

NFPs Need to Be Aware of What Attracts ATO Attention

Terry Hayes

Wednesday, 22nd March 2017 at 12:57 pm

Disability Sector Joins Calls for a Halt to Centrelink ‘Fiasco’

Wendy Williams

Friday, 6th January 2017 at 1:28 pm

POPULAR

Concerns Raised Over NDIS Barriers for Homeless People With Disability

Maggie Coggan

Tuesday, 7th August 2018 at 8:24 am

NFPs Urged to Focus on Purpose

Luke Michael

Tuesday, 7th August 2018 at 8:27 am

Coordinated Care at Risk Under Marketisation of the NDIS

Luke Michael

Thursday, 9th August 2018 at 8:20 am

Disability Advocates Welcome Pledge to Remove NDIA Staff Cap

Luke Michael

Wednesday, 8th August 2018 at 5:12 pm

GTG
pba inverse logo
Subscribe Twitter Facebook

The social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!