Are your invoices ATO compliant and suitably branded?

We’ve pointed-out to a few of our suppliers lately that their invoices weren’t compliant with tax invoice requirements of the ATO. So here are a few tips for those of you with small businesses which are registered for GST.

If the tax invoice is for less than $1000 in total

The following information must be included:

  1. The words “Tax invoice”.
  2. Your full business or company name.
  3. Your Australian business number (ABN).
  4. The date issued.
  5. Description of goods and/or services sold.
  6. There are two alternatives for displaying the total and GST:
  • The total price of what is sold (including GST) coupled with the statement “Total price includes GST” (if one-eleventh of the total price).
  • Show the GST separately, and the total price of what is sold (including GST).

 


 

If the tax invoice is for $1000 or more

The following information must be included:

  1. The words “Tax invoice”.
  2. Your full business or company name.
  3. Your Australian business number (ABN).
  4. The date issued.
  5. Description of goods and/or services sold.
  6. The total price of what is sold (including GST).
  7. The buyer’s business name, company name or personal name.
  8. The quantity (if applicable).
  9. There are three alternatives for displaying GST:
  • Include the statement “The total price includes GST”.
  • Include a sub total which identifies the amount of GST charged.
  • Include the GST applicable per unit.

Other considerations

  • If you have a mix of taxable and non-taxable sales, or you have any questions about tax invoices, then we strongly suggest you talk directly to the ATO or your accountant.
  • You should include payment terms and payment alternatives.
  • And finally, if you want your invoices to look professional and reinforce your branding, then contact Creative Passion.