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  • 5.12. What must be included in the 'tax invoice' where you make a taxable supply and the consideration is expressed in a foreign currency?

    Non-interpretative – other references (see GSTR 2001/2 Goods and Services Tax: foreign exchange conversions)

    For the tax invoice to be in the approved form, it must comply with the tax invoice requirements stated in GST Ruling GSTR 2013/1 and:

    • include on the form the GST payable in Australian currency, or
    • provide 'sufficient information' to the recipient to work out the GST payable on the supply in Australian currency.

    Examples of sufficient information include:

    • the price expressed in Australian currency
    • the value expressed in Australian currency, or
    • the GST payable, the price or value expressed in a foreign currency and the conversion rate used by the supplier, or a statement, to work out the GST payable in Australian currency.

    This information can be provided on the tax invoice, or on two or more documents that together meet the information requirements of a tax invoice.

    The Commissioner will allow entities an administrative concession until 30 June 2001 to comply with the additional tax invoice requirements where an entity needs to adjust their computerised accounting systems.

    An example of a statement with sufficient information is as follows:

    'The GST is calculated in Australian currency at the exchange rate published by the RBA at 4:00pm Australian Eastern time on the business day prior to the date of this tax invoice.'

      Last modified: 01 Apr 2019QC 16359