Simplified BAS reporting commenced from 1 July 2017 for small businesses with a turnover of less than $10 million.
Small businesses will no longer be required to complete label G2 Export Sales, G3 Other GST-free Sales, G10 Capital Purchases and G11 Non-Capital Purchases and can leave these labels blank.
Small businesses will only be required to report G1 Total Sales, 1A GST on Sales and 1B GST on Purchases.
Paper BAS forms will still stay the same as larger businesses will still use these labels.
If you are an eligible small business and you lodge your BAS using the paper BAS form, you can ignore these no longer required labels.
However, if you lodge online through the business portal or tax agent portal then these labels won’t be visible. You are still required to complete the rest of your BAS and keep all your usual records.