If your GST turnover is less than $10 million, you can use the ‘Simpler BAS’ reporting method.

Unlike the full reporting method, you don’t need to complete a GST calculation worksheet or classify your sales and purchases into categories such as export sales, input-tax sales, GST-free sales, and capital and non-capital purchases.

With Simpler BAS, you only need to report 3 amounts to the ATO - your total sales, the GST you’ve collected on your sales and your GST credits for purchases.

This makes reporting easier, saves you time and is the most common method of reporting for sole traders and small businesses.

Important! Although you only report total figures to the ATO, you still need to make sure you have all of your records and documentation to support your claims. If you don’t, the ATO may question, adjust or disallow your claim.

Watch the following video to see how Jack, a small business owner, completes his BAS using ATO Online Services for Individuals and Simpler BAS.