Choose a method to complete your activity statement
You must choose one of the following two methods to complete your activity statement:
Calculation worksheet method
The calculation worksheet method is a step-by-step way of calculating the GST on your sales, purchases and importations using the GST calculation worksheet for BAS. You complete the worksheet using information from your accounts and then follow the instructions on the worksheet to transfer the amounts to the appropriate GST labels on your activity statement.
You’ll need to complete up to 20 labels on the calculation worksheet to calculate the amounts to be reported at 1A (GST on sales) and 1B (GST on purchases) on your activity statement. If you use this method, the amounts you report must include GST. That is, the amounts you report at all labels must take into account both:
- any GST you are liable to pay on sales
- the GST included in the price of purchases and importations that you make.
You must indicate that your amounts include GST by marking the Yes box on your activity statement at G1 (total sales).
See an example of a completed calculation worksheet.
If you use the calculation worksheet method, you will need to write amounts from your records onto the worksheet, make calculations where required, and transfer the amounts at the labels shown below to your activity statement.
Depending on which reporting option you are using (or are required to use) you are not required to report all of the GST labels indicated on each activity statement.
Sample: GST calculation worksheet for BAS
The accounts method is a way of completing your activity statement directly from your accounting records. To use this method, your records must be able to do all of the following:
- readily identify GST amounts for your
- separately record any purchases or importations that were for either
- private use
- making input taxed sales.
- identify any GST-free or input taxed sales.
See an example of how to keep your records so that you can use the accounts method.
If you have your records set up in this way, you simply add up the relevant GST amounts at the end of each reporting period and report them at the appropriate labels on your activity statement.
If you use the accounts method, the amounts you report on your activity statement at G1 (total sales) can be GST-inclusive or GST-exclusive. You need to indicate whether the amounts include GST by marking either Yes or No with an ‘X’ in the box under G1.
G1 is the only label where you indicate a choice to report GST-exclusive or GST-inclusive amounts. However, if you are using the accounts method you can also complete the other GST labels as GST-inclusive or GST-exclusive.
If you use the accounts method, you will need to get these amounts from your accounting records and transfer them to your activity statement. Depending on which reporting option you are using or required to use, not all of the GST labels indicated are required to be reported on each activity statement.
Sample: Using the accounts method
If you use the accounts method, you must complete labels G1, G2, G3, G10 and G11 for information purposes only. If necessary, you can estimate the amounts on a reasonably accurate basis from your accounts.