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  • Avoid simple mistakes with GST reporting

    We've found businesses can make simple mistakes reporting their GST. To avoid errors keep an eye out for the following common errors and ensure you report correctly.

    1. Transposition and calculation errors – transposition errors can occur when an amount is manually input. These errors can be easily eliminated by double checking all figures and calculations before submitting your BAS.
    2. No tax invoice – you need to keep tax invoices to claim GST credits you have claimed on business related purchases. For more information on tax invoices, see When you can claim a GST credit.
    3. Transaction classification – make sure you check what's GST applicable. Transactions involving food may be GST applicable. For more information you see GST food classification flow charts.
    4. Accounting systems – a system with one coding error can classify several transactions incorrectly. Check your business systems using our GST governance and risk management guide for large businesses.

    If you find you've made a mistake on a previous return, you can:

    See also:

    Last modified: 02 Nov 2018QC 57280