Costello Finds Labor’s BAS Easy Too Hard

The government says it is extending the Simplified Accounting Methods to more small businesses.  But if the government were fair dinkum about doing this, it would adopt Labor’s BAS Easy option. 

For years Peter Costello condemned Labor’s ratio method and even a fortnight before the Budget he pretended he’d already implemented BAS Easy in October last year. 

Then in the Budget he said all small businesses with a mixture of GST and non-GST sales or purchases could use the Simplified Accounting Methods by approaching the Tax Office for their own special ratio.

That’s BAS Easy.  So why didn’t government members vote for it in the House of Representatives? Only a change of government will guarantee a cut in GST paperwork for small businesses who want to avail themselves of the BAS Easy option.

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