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Tax invoices and record keeping for GST credits

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Claiming GST credits can seem confusing, but there are a couple of simple things that can help you avoid some common mistakes.

1. Make sure you hold valid tax invoices for purchases above $82.50 (including GST)

For a tax invoice to be valid it needs to include the:

  • words 'tax invoice'

  • seller's name and ABN

  • issue date of the invoice

  • description of items sold – including the quantity and price

  • GST amount included in the price

  • extent to which each sale includes GST, and

  • for sales above $1,000, purchaser's name or ABN.

2. Keep good records

Good record-keeping practices can help you get your refund faster if we need to check your claim. Aside from obtaining valid tax invoices for GST purchases, some tips for keeping good records are to:

  • keep accurate records of all sales and purchases

  • store your records electronically

  • ensure your records contain enough information to calculate and support the amounts on your BAS, and

  • retain a copy of all tax invoices and other GST records for 5 years.

You can evaluate your current record-keeping practices by using our record-keeping evaluation tool.

Please contact us on (08) 9459 7155 if you seek further asistance. 


Source : ATO Small Business  February 2018 

Reproduced with the permission of the Australian Tax Office. This article was originally published at

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