Tips on Claiming GST Credits

You are allowed to claim GST credits for the portion of business purchases and avoid claiming GST on personal expenses.
For discounted prices, use the discounted price when you claim GST credits.
You are liable to claim GST credits up front for purchases under a hire purchase agreement, in case you account for GST on a cash basis.
When you claim invoices in a foreign currency, you are liable to claim GST credits on the Australian dollar value.
If your business ceases or changes, you are required to repay some GST credits for business assets that you want to keep. If you don’t know how to claim GST credits, you can get help from Melbourne accountants.

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Tips to Make GST and BAS Easier for Small Business Owners

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