Dear MYOB,
Can we have the ABN Lookup feature added to Essentials.
it would be good to have this as a entry field at the earliest stage of entering a supplier, or allocating a bank feed so that G...
Hi Pete747 - good idea !
In Australia, a sole trader business can have an ABN but not be registered for GST,
as they don't have to register for GST if their turnover is under $75,000.
If they aren't registered for GST, they are not entitled to charge GST or claim GST credits on their purchases.
They should ensure their tax invoices show that no GST has been charged, or show the GST amount as Nil.
Their customers will NOT be able to claim a GST credit for these purchases.
This is an issue in industries where invoicing is GST- inclusive - e.g tradesmen.