Saasu supports Australian Tax Codes for the sale of goods and services. Updates are provided as a standard part of the service. For example -

Some summary information from ATO Sources and References are provided below. See ATO website for full details. Search their website for:

• Business Activity Statement Instructions
• Activity Statement Essentials
• GST Essentials - Business

Sale: Incl. GST [G1]

Payments and other consideration (including GST) you received for supplies, sales and income you made in the course of your business. Some examples: * Services including contract services, personal services income e.g. medical or legal practitioner, professional sports person, entertainer, consulting engineer, computer consultant ,supply of advice and information. * Sale of goods/stock ( +$ income ), returned goods (-$ income), daily takings from store, lay by deposit/payment, hire of item/equipment from business/store, deposit for hire equipment, sale of (used) computer, sale of second hand goods. * Employee private use of motor vehicle. * Commercial property rents.

Sale: Exports [G1,G2]

Export sales you have made in the course of your business. Some examples: Goods exported. Repair, processing or modification of goods from overseas and exported after that work done, and goods used as part of that work and exported after the work is done.

Sale: GST Free [G1, G3]

Payments and other consideration you received for supplies or sales you made in the course of your business, that are GST-free supplies. Some examples: Stock sales GST free e.g. basic food supplies-not takeaway or restaurant/cafe food. Health education and eligible childcare services

Sale: Input Taxed [G1, G4]

For input taxed income/sales/supplies you have made, you do not charge GST but neither are you entitled to input tax credits for expenses or purchases required to make that income. Examples are financial supplies and business or individual owned residential rental income. Some examples: Interest received by business. Rent from business owned residential investment property. Rent from individual owned residential investment property for residential use. Rent from commercial investment property rent for residential use.

Sale: Adjustments [G7]

Adjustments up or down you need to make if you have paid too much or too little GST in the previous activity statement. Some examples: An overpaid or underpaid GST. Stock removal for personal use.

CapEx: Incl. GST [G10]

Amounts paid for acquisitions and importations of capital items, also known as assets, for use in your business. Some examples: Plant and equipment, goodwill, buildings, business names, patents, copyrights, computer, freezer for shop, steam cleaner- capital equipment for hire, second hand motor vehicle.

CapEx: GST Free [G10,G13]

See ATO Sources and References.

CapEx: Incl. GST - For Input Taxed Sales [G10,G13]

Amounts paid for acquisitions or importations of capital items, also known as assets, for use in making input taxed supplies, e.g. residential rental income. You are not entitled to input tax credits for these acquisitions or importations. Some examples: New roof or guttering for residential investment property.

CapEx: Incl. GST - Private/Non-deductable [G10,G15]

See ATO Sources and References.

CapEx: GST Free - For Input Taxed Sales [G10,G13]

See ATO Sources and References.

CapEx: GST Free - Private/Non-deductable [G10,G15]

See ATO Sources and References.

Exp: Incl. GST [G11]

Amounts you paid for acquisitions that included GST, for other than capital purchases, for use in your business. Some examples: Stock purchased from suppliers ( $ expense) , credit for stock returned to supplier ( - $ expense). Acquisition of advice or information. Periodic supplies e.g. 12 mnth. maintenance contract, lease payments, workcover payments. Rent of business premises/shop, electricity, repairs, painting business premises, stationary, equipment rent, telephone, petty cash expenses ie money used for small cash expenditures used in your business, milk, stamps, small amounts of petrol. Expenses for a commercial investment property.

Exp: GST Free [G11,G14]

Amounts you paid for acquisitions that are GST-Free, for other than capital purchases, for use in your business. Some examples: Bank charges and account keeping fees, but NOT government taxes on your bank account like FID or BAD tax Stock purchase GST free items. Purchase from a non (GST) registered supplier, child care for employee’s children by eligible service, assume no FBT This tax code is also used for amounts you paid for acquisitions that are input taxed for use in your business. See examples. See ATO BAS Instructions Book page 42. Some examples: Financial supplies including loan interest, interest paid by a business, insurance claim excess, residential property rent, long term commercial residential accommodation, lease payments (GST free).

Exp: Incl. GST - For Input Taxed Sales [G11,G13]

Amounts you have paid for acquisitions for input taxed sales. You are not entitled to input tax credits for GST included in acquisitions related to input taxed sales/income/supplies. Some examples: Business or individual owned residential investment property expenses: mortgage interest, agents management fees, municipal and water rates, garden maintenance, widow repair, legal fees ,painting residential premises, stationary, equipment rent and telephone.

Exp: Incl. GST - for Private/Non-deductible [G11,G15]

Estimated amount for private use of acquisitions and amounts for non income tax deductible acquisitions for which you are not entitled to input tax credits for GST. Some examples: Entertaining expenses, recreational club expenses, travel expenses for relatives on employee business trips, private use of a business computer.

Exp: GST Free - For Input Taxed Sales [G11,G13]

See ATO Sources and References.

Exp: GST Free - for Private/Non-deductible [G11,G15]

See ATO Sources and References.

– No Tax Code –

Any money flows or transactions that the ATO does not require you to report in your BAS.