Do your Tax Invoices say the right things?

One of the most common issues we run into here at Accounted For You, suppliers issuing to our client’s non-compliant invoices.

Meaning they don’t comply with the ATOs requirements on what information they should have on them. Here’s what you need to be showing!

If you’re already a client of ours, we’re all over it and yours are spot on, but you still need to be aware so you know what to look for when getting them for your purchases.

If you are registered for GST – you must issue a ‘Tax Invoice’ and have:

  1. words ‘Tax Invoice’
  2. seller’s identity
  3. seller’s Australian Business Number (ABN)
  4. the date the invoice was issued
  5. brief description and price
  6. GST amount (if any) payable – this can be shown separately or, if the GST amount is exactly one-eleventh of the total price, as a statement such as ‘Total price includes GST’ and
  7. the extent of GST on each part of the sale
  8. sales over $1000 must also show the buyers identity and / or ABN

If you are NOT registered for GST – you must issue an ‘Invoice’

  • it is misleading and therefore not allowed to say Tax Invoice, because there is no tax involved in the sale.
  • you also need to have all of the above (except the GST info of course!)

It must show the ABN so that we can check the ABN is current and if the seller is indeed registered for GST or not, to know what we can claim for our clients. It’s also part of ATO requirement that we recheck these ABN’s at least once every 12 months to ensure they are still active and valid.

Check out the full details here and examples from the ATO here and more info and GST free, RCTIs (which we can set up for you) etc.

Unfortunately, if we don’t get a valid Invoice / Tax Invoice – it is not a valid business expense, which is why it’s super important to get all your invoices!

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