Today's meeting of the government, the Australian Taxation Office and business groups has been described as a positive step.
While the Treasurer is not yet releasing detail of the discussions, it is expected the changes will make a significant difference to businesses installing their next quarterly return in April.
Taxation director for the Institute of Chartered Accountants in Australia (ICAA), Brian Sheppard, says the fact the Prime Minister, the Deputy Prime Minister, the Treasurer and the Small Business Minister all attended the meeting is a positive sign.
"We had their undivided attention for three hours.
"The government appears to be listening to our concerns and is serious about changes."
Sheppard says the meeting did not result in any guarantees, and the government needs to further discuss issues where a difference of opinion was evident.
Joycelyn Morton, the national president of CPA Australia, says the overall mood of those who participated was very positive.
"Today's discussions will go a long way to achieving simplification of the currently burdensome BAS system for small/medium businesses across Australia, and will help to reduce compliance costs for those taxpayers.
"We look forward to the federal government's announcement on today's meeting outcomes in the near future.
"We also encourage the government to seek to workshop problems through the consultative process in the future, as the need arises."
For more detail on what today's meeting was expected to discuss, click
here.