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JJBC
Level 1
posted
‎August 27, 2019 04:49 PM
last updated ‎August 26, 2019 11:49 PM

What is the difference between the two codes 'GST on purchases' and 'GST' and 'GST Free' and "GST

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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Best answer August 27, 2019
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Bonny_
Moderator
Moderator
‎August 27, 2019 05:13 PM

What is the difference between the two codes 'GST on purchases' and 'GST' and 'GST Free' and "GST

Hi JJBC,

 

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!

 

Bonny

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2 Comments 2
Bonny_
Moderator
Moderator
‎August 27, 2019 05:13 PM

What is the difference between the two codes 'GST on purchases' and 'GST' and 'GST Free' and "GST

Hi JJBC,

 

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!

 

Bonny

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JJBC
Level 1
‎August 27, 2019 05:23 PM

What is the difference between the two codes 'GST on purchases' and 'GST' and 'GST Free' and "GST

Thanks Bonny. That really helped

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