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brad57
July 2, 2020
Question

GST

  • July 2, 2020
  • 1 reply
  • 0 views

Why doesn't GST paid to the ATO appear on my P&L or Tax  Report as a Business Expense??

1 reply

K
Kass_B - Product Champion
July 3, 2020

Hi brad57,

 

GST payments to the ATO are recorded to your Balance Sheet rather than your Profit and Loss. Any GST collected from sales and paid on purchases are shown on your tax reports, not the actual GST payment you remit to the ATO. We would encourage you to reach out to your accountant or bookkeeper or refer to the ATO for further clarification on what makes up a business expense.

 

-Kass

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