| Tax Invoice Requirements:- |
| Although we have had GST now for more than two years, we still see errors. |
The information to be shown on a tax invoice varies according to the total amount payable. The following table is a general guide:-
| Attributes
| Tax Invoice (Supplies less than $1,000)
| Tax Invoice (Supplies of $1,000 or more)
| | ?Tax Invoice? stated prominently
| X
| X
| Date of issue
| X
| X
| Name of supplier
| X
| X
| ABN of supplier overhead costs
| X
| X
| Name of Recipient
| -
| X
| Address of ABN Recipient
| -
| X
| Brief Description of each thing or Services Supplied
| X
| X
| For each description, the quantity of the goods ore the extent of the services supplied
| -
| X
| The GST-inclusive price of the taxable supply
| X
| X
| If GST payable equals 1/11th of total price, either:-
| X
| X
| - a statement such as ?The total price includes GST?, or
| -
| -
| - the total amount of GST
| -
| -
| If GST payable is less than 1/11th of total price:
| X
| X
| - the amount payable (excluding GST), and
| -
| -
| - the total amount of GST
| -
| -
| | | | | | | | | | | | | | |
If the value of a taxable supply is $50 or less (that is the price including GST is $55 or less) a supplier does not have to issue a tax invoice and a recipient can claim their input tax credit without holding one, although they should retain a receipt or any other evidence of purchase.
24th-October-2003 |
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