GST Blue Saffron

GST - Australia - Rounding Up Tax Amount

January 09, 2022 Anup Season 1 Episode 51
GST Blue Saffron
GST - Australia - Rounding Up Tax Amount
Show Notes

Where there is only one taxable sale on a tax invoice, the amount of GST should be rounded to the nearest cent (rounding 0.5 cents upwards). Where there is more than one taxable sale on a tax invoice, there are two rules known as the total invoice rule and the taxable supply rule. Listen to the podcast to learn those 2 simple rules.