G3 and ITS on BAS
Should the ITS financial supplies figures that are recorded in G1 (Total sales) also be included in G3 (Other GST - free sales) as financial services do not have GST ?
Thank you
Marg
Forum Discussion
Hi Marg
See below link from the ATO defining what is included in G1 of the simplified BAS
https://www.ato.gov.au/businesses-and-organisations/gst-excise-and-indirect-taxes/gst/in-detail/your-industry/financial-services-and-insurance/gst-and-financial-supplies/reporting-financial-supplies-on-your-bas#ato-G1totalsales
Hope this is helpful Chris
Thank you Chris,
I was just thinking since no GST in the ITS codes that they would appear at G1 & G3
As the Fre coded items are. But obviously not, since MYOB must automatically put them into the correct sections ! Thank you again.
