Schools have capital thresholds based on accounting rules rather than income tax.
The BAS instructions are being amended to reflect this. This issue was considered by the ATO Lodgement Policy Sub-Committee at the meeting held on Wednesday 7 th June 2000. However, the committee requires additional information to fully consider the proposal put forward. Members of the EIP Forum have been requested to provide this information to Kelly Canavan by COB 25 August 2000. However, the Treasurer has announced in Media Release dated 30 March 200 simplified rules for certain entities in reporting their GST liability.