Hi, Thanks in advance for help!
I have entered a new purchase invoice for a large value capital item. This item has a percentage of personal use, so when I am running my GST calculation worksheet…I need to see a portion of that capital expense listed at G15.
Where or how do I declare this portion so that it will appear at item G15 on the worksheet?
Thanks
Without a better understanding of the transaction.
When you processed the Invoice did you split the transaction other two lines - non personal and personal. The personal portion would be entered with no tax component as that’s not claimable.
The ATO does not require you to report private use acquisitions under G15. They are only recorded for your records to substantiate that you have correctly allocated the acquisition in the event of a GST audit. You can use the Tax Audit report instead and the report is useful for reviewing the GST allocated to each account before you lodge your BAS. GST errors are quite noticeable when you review the Tax Audit report.