GST Issues

1

How would you go about setting the GST for an item where it is not obvious what the GST portions are. For example I have a phone bill that has a total of $249.37 and under it, there is a GST charge of $20.40. The GST in Australia is 10%, however, any of the calculations i do cannot work out what portion of the charges are actually gst free and which are (this has a credit card fee of $5.55)

Is there a way to manually set the GST amount without having it as a %, yet still allow it to show up in the BAS.

Thanks

Brad

2

You can split the transaction between the amount that includes GST and the GST free amount. The amount that includes GST is calculated by multiplying the GST charge by eleven and the difference is the GST free amount.

3

Thanks for the reply Tony. That’s what i ended up doing, I am guessing that this is what most businesses have to do when they get invoices like this.