Is G10 Capital Purchases mandatory when filling out the BAS for a large business? Reason for the question is that new system is no longer able to distinguish between capital and non-capital items and therefore unable to report. On a side note what is this statistic used for or sent to?
Hi @CMorrison
When your turnover exceeds $10mil you need to use the Full reporting method which means you need to complete G10.
BAS data in general is used to assist with risk analysis, compliance measurement and profiling purposes.
See our website for more information about which labels must be completed when using the Full reporting method. You may also find the following link interesting which is about GST and business systems: Large business.
Ari
Hi, @CMorrison,
We will do some research on this one and get back to you.
Hi @CMorrison
When your turnover exceeds $10mil you need to use the Full reporting method which means you need to complete G10.
BAS data in general is used to assist with risk analysis, compliance measurement and profiling purposes.
See our website for more information about which labels must be completed when using the Full reporting method. You may also find the following link interesting which is about GST and business systems: Large business.
Ari
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