ATO simplifies business activity statements

ATO simplifies business activity statements


The Taxation Office has recently announced that it is working towards making a simpler BAS to reduce GST compliance for small businesses and also make GST record keeping and reporting easier.

This is a result of tax professionals, small businesses and industry associations expressing their concerns to the ATO over current BAS requirements. From 1 July 2017, the ATO is reducing the number of labels on activity statements. Small businesses will only need to report:

  • GST on sales
  • GST on purchases
  • Total sales

The ATO will remove the requirement to report export sales, capital purchases, non-capital purchases and other GST free sales. The changes are designed to reduce GST record keeping costs, save time and simplify account set up, bookkeeping processes and BAS preparation.

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If you believe the matters discussed above are relevant to your business, please contact Darren Smith of our office to discuss further.


Darren is a Chartered Accountant with extensive experience, including working in the big 4 and medium sized firms before becoming a partner of a city based firm in 2000.

He has gained much experience and has extensive knowledge in providing business and taxation advice, superannuation planning, negotiation of sales and acquisitions of businesses and property development. His client base covers a wide range of industry groups.

Darren works with business owners to grow their businesses and create personal wealth within and outside of their business.


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