Business.gov.au have published information for business owners on how to make amendments to their BAS.
Business.gov.au emphasised the importance of making amendments with BAS within the time limit, which is known as the ‘period of review’, which starts the day business owners lodge their BAS and expires four years after that day.
During the period of review, businesses can amend their BAS an unlimited amount of times and once an item has been amended, a refreshed period of review applies (adding another four year period of review to that item).
More information on BAS changes and period of reviews, including making changes to sales items, GST credits and fuel tax credits can be found here.
The next BAS due date is 28 July.
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