In these situations, the transaction needs to be 'split up' into GST taxable and non-GST taxable lines. For GST taxable lines, the GST amount is always 1/10th (exclusive basis) or 1/11th (inclusive basis) of the line total. In this way, BASlink can correctly calculate GST collected and paid at G9 and G20 by dividing G8 and G19 by 11.Australian businesses that are registered for GST or have employees need to regularly lodge activity statements — BAS or IAS — with the ATO that contain GST, PAYG and other business information. AccountRight makes the reporting process easier for you. You can choose to lodge your activity statements online using AccountRight, or do it manually with the help of MYOB’s BASlink tool. Lodge onlineIf you’re using AccountRight 2016.3 or later, and your company file is online, you can lodge your BAS or IAS online, straight from AccountRight. There’s a one-time easy setup, and no paper forms to worry about - you’ll also get quick confirmation from the ATO about your lodgement. Get started now HTML |
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Lodge manuallyIf your company file isn’t online, you’ll need to prepare your activity statement using the ATO-supplied forms, or lodge the details electronically on the ATO’s website. To help you work out what needs to be reported, you can use MYOB BASlink. Learn about BASlink Image Added Image Added Brian is an AccountRight pro who's written lots of help topics - including this one. He'd love your feedback to help make it better. |