Guide to activity statements

Methods for reporting GST

There are two methods you can use to report GST on your activity statement. We accept both methods and you can choose the one that best suits your business. The two methods are the:

• derived from accounts method - you calculate your GST amounts from your business records
• calculation sheet method - you calculate your GST amounts using a step-by-step worksheet.

You may find the accounts method easier and quicker for your business. You can use this method if you have separately recorded the GST amounts for your sales and purchases. For small businesses this may be as simple as having a GST column in your cashbook or spreadsheet.

Regardless of which method you choose, you must keep valid tax invoices of your transactions to support your claims. This is normal business practice.

For more information about: GST reporting methods, refer to GST - completing your activity statement (NAT 7392) what constitutes a valid tax invoice, refer to Valid tax invoices and GST credits. You can download a copy of the GST calculation worksheet.

Activity statements - home

Sections within Goods and services tax (GST)

• Choosing a GST option (quarterly payers)
• Completing the GST labels on your activity statement
• Methods for reporting GST
• Adjustments and corrections