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JJBC
Level 1

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

Best Answers
Bonny_
Moderator

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

View solution in original post

2 Comments 2
Bonny_
Moderator

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

View solution in original post

JJBC
Level 1

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

Thanks Bonny. That really helped