To optimise cashflow management for small business, it is imperative that Goods and Services Tax (GST) registration suits the business operations. This step-by-step guide will help you understand how to take GST reporting from cash to accruals basis.
With the Federal Government’s October Tax Forum kicking off soon, a new study by MYOB found 71 percent of local business owners want the Business Activity Statement (BAS) simplified and 76 percent want GST rules reviewed. In light of this, MYOB has released an online petition for business owners to send a clear message to the government to introduce legislation that makes life easier for SMEs.
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