Yesterday's meeting of the federal Cabinet resulted in a decision to make substantial adjustments to the Business Activity Statement (BAS), with exact details to be released later this week or early next week.
Treasurer Peter Costello says changes will take effect from the March quarter BAS, due on April 28.
The options Costello has, including a reduction in the number of complicated forms to be sent to the Tax Office from four to one a year, will be road tested with business and accounting groups this week.
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