BAS process needs refining
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Tuesday, 12 December, 2000 - 21:00
CPA Australia says it does not support making wholesale changes to the Business Activity Statement (BAS).
However, the organisation is working closely with the ATO to fine tune the process and ease the burden on tax agents for the next quarter.
CPAs are calling for the ATO to announce the following changes in time for the December 2000 quarter:
Streamlining GST reporting by requiring quarterly lodgers to complete only some of the boxes.
More information could be required at a later date once the new system has been bedded down properly.
In the meantime, the unused boxes could remain or be “blacked” out to avoid the need to create a new form;
Widening access to a non-instalment rate (IR) method for determining quarterly PAYG instalments.
This would avoid the need for any calculation by taxpayers/accountants because they would only need to pay the amount notified by the ATO after it has received the BAS;
Extending the BAS lodgment dates (ie. beyond the 21-day period) for at least the remainder of this transition year; and
Introducing greater flexibility into the 2000/01 income tax return lodgment program in recognition of the time spent by agents on BAS/IAS returns during the year, with a minimum general extension of one month on the existing program for all return types.
However, the organisation is working closely with the ATO to fine tune the process and ease the burden on tax agents for the next quarter.
CPAs are calling for the ATO to announce the following changes in time for the December 2000 quarter:
Streamlining GST reporting by requiring quarterly lodgers to complete only some of the boxes.
More information could be required at a later date once the new system has been bedded down properly.
In the meantime, the unused boxes could remain or be “blacked” out to avoid the need to create a new form;
Widening access to a non-instalment rate (IR) method for determining quarterly PAYG instalments.
This would avoid the need for any calculation by taxpayers/accountants because they would only need to pay the amount notified by the ATO after it has received the BAS;
Extending the BAS lodgment dates (ie. beyond the 21-day period) for at least the remainder of this transition year; and
Introducing greater flexibility into the 2000/01 income tax return lodgment program in recognition of the time spent by agents on BAS/IAS returns during the year, with a minimum general extension of one month on the existing program for all return types.