Probably a stupid question but what is the difference between the codes 'GST on purchases' and 'GST' and 'GST Free' and "GST free purchases'
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Good question! These GST codes are part of the ATO's simpler GST reporting guidelines set in place for businesses with a turnover of less than $10 million a year.
Here's a comprehensive article on what the difference is between these codes: https://www.ato.gov.au/Business/Business-activity-statements-(BAS)/Goods-and-services-tax-(GST)/Simp...
Hope this helps!
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Thanks Bonny. That really helped