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brad57
Level 1

GST

Why doesn't GST paid to the ATO appear on my P&L or Tax  Report as a Business Expense??

1 Comment 1
Kass_B - Product Champion
Content Creator

GST

Hi brad57,

 

GST payments to the ATO are recorded to your Balance Sheet rather than your Profit and Loss. Any GST collected from sales and paid on purchases are shown on your tax reports, not the actual GST payment you remit to the ATO. We would encourage you to reach out to your accountant or bookkeeper or refer to the ATO for further clarification on what makes up a business expense.

 

-Kass