What should be on my tax invoice?

It’s a question we’re often asked – what should be on my tax invoice?

I’m sure you know that an invoice is a record of purchase and allows your customers to pay for goods or services you’ve provided them. Invoices give details of the purchase and price that’s agreed to. This allows you to maintain the correct records and meet your tax obligations. If you are not required to be registered for GST then your invoices are known as regular invoices. If you are registered for GST then your invoices must include the words “tax invoice.”

So what should be on your tax invoice?

Your tax invoice must include enough information to clearly determine the following seven details.

  1. that the document is intended to be a tax invoice
  2. the seller’s identity such as your business name or trading name
  3. the seller’s Australian Business Number (ABN)
  4. the date the invoice was issued
  5. a brief description of the items sold, including the quantity (if applicable) and the price
  6. the GST amount (if any) payable – this can be shown separately or, if the GST amount is exactly one-eleventh of the total price, as a statement such as ‘Total price includes GST’
  7. the extent to which each sale on the invoice is a taxable sale (that is, the extent to which each sale includes GST)

In addition, tax invoices for sales of $1,000 or more need to show the buyer’s identity or ABN.

Author: Kay Giles
Email: kay@faj.com.au