• Business norms percentages No. 1 - hot bread shops

    Am I an eligible hot bread shop operator?

    You may be eligible to use the business norms percentages to estimate your GST -free sales and purchases if your retail hot bread shop's cash flow is mainly from sales of bread (as opposed to shops that specialise mainly in cakes).

    Your hot bread shop must also:

    • be registered for GST
    • have a simplified GST accounting methods (SAM) turnover of $2 million or less
    • not have point-of-sale equipment that can identify and record your mix of taxable and GST -free sales, and
    • sell taxable and GST-free food from the same premises.

    If you meet all of the eligibility requirements, you can use the business norms percentages to estimate your GST -free sales and purchases at the end of each tax period, rather than having to record every transaction at the point of sale.

    Hot bread shop business norms percentages

    The business norms percentages for hot bread shops are:

    • GST-free sales - 50%
    • GST-free purchases - 75%.

    If you do not want to use the business norms simplified GST accounting method, you can use the snapshot simplified GST accounting method.

    If you do not want to use any of the simplified accounting methods you must work out the amount of GST payable by accounting for each of your transactions.

    More information

    For more information refer to:

    For a copy of our publications or for more information:

    • phone us on 13 28 66, or 
    • write to us at:

    Australian Taxation Office
    PO Box 3524
    ALBURY  NSW  2640
    .

    If you do not speak English well and need help from us, phone the Translating and Interpreting Service on 13 14 50.

    If you are deaf, or have a hearing or speech impairment, phone us through the National Relay Service (NRS) on the numbers listed below:

    • TTY users, phone 13 36 77 and ask for the ATO number you need
    • Speak and Listen (speech-to-speech relay) users, phone 1300 555 727 and ask for the ATO number you need
    • internet relay users, connect to the NRS on www.relayservice.com.au and ask for the ATO number you need.
      Last modified: 29 Jan 2013QC 16279