Only choose a method if you need to complete a full BAS:
Depending on the method you use, you won’t need to complete all of the GST labels.
The calculation worksheet method is a step-by-step way of calculating the GST on your sales, purchases and importations using our GST calculation worksheet. This involves:
- completing the worksheet using information from your accounts
- making calculations to report your amounts at 1A (GST on sales) and 1B (GST on purchases)
- following the instructions on the worksheet to transfer the amounts to the appropriate GST labels on your BAS.
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 BAS. 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 BAS at G1 (total sales).
The accounts method is a way of completing your BAS directly from your accounting records. To use this method, your records must be able to do all of the following:
- identify GST amounts for your sales, purchases and importations
- record purchases or importations that were for either private use or making input taxed sales
- identify GST-free or input taxed sales.
Add up the relevant GST amounts at the end of each reporting period and report them at the appropriate labels on your BAS.
The amounts you report on your BAS at G1 (total sales) can be GST-inclusive or GST-exclusive. You need to indicate amounts that include GST by marking either Yes or No with an ‘X’ in the box under G1.
G1 is the only label where you choose to report GST-exclusive or GST-inclusive amounts. Once you make a choice to report either a GST-exclusive or GST-inclusive amounts, then you also need to complete all other GST labels according to your choice.