GST for Non - Registered

[FJNZ]

Hello,

I have just got off the phone to IRD and they said that because I am not GST registered I can claim the full amount of what I pay for my bills as an expense. I was under the impression that I could only claim back the full amount minus GST. This is good news, however how do I enter this into MYOB when I create a bill? I've been entering themm as GST inclusive.. because thats what it is on the invoices, but do I simply just click GST exclusive now?

Or is there another way of inputting this?

Cheers

[Aimée_S · Accepted solution]

Hi @FJNZ 

Thanks for your post. So from the software point of view, selecting either GST Inclusive or GST Exclusive just changes how the amount appears on that screen - it remains the same on the actual journal entry.

What you can do is edit your account settings to 'Not GST Registered', I've provided step-by-step instructions on how to do this below:

1. Click your business name and choose Business settings.

2. Click the GST settings tab.

3. Select whether or not your business is registered for GST.

4. If you're registered for GST, select your Reporting frequency and Accounting basis.

5. When you're done, click Save.

Please note, these GST settings don't control the tax calculations on your transactions. Tax is calculated based on Tax/GST codes and you will need to check what tax code you need to use with your accountant/financial advisor.