BAS Statement

BAS Statement

If you are a small (Australian) business owner who is doing/want to do your BAS (Business Activity Statement) and GST yourself I have a FREE Microsoft Excel “hack” that will simplify your work and make it a VERY easy exercise. All you will need to do is to DOWNLOAD your business transactions from your bank account, ADD some additional info (using the “Auto Filter”-function), and RUN the pre-configured “Pivot Table”-function. The result will give you your SALE (G1), your SALE GST (1A), and your PURCHASE GST (1B) that you enter online on the ATO website. An added bonus is you can use it as input for your tax return.