Keeping GST records is about to get easier.
New laws introduced by the Government, taking effect on 1 April 2023, have modernised the GST rules for invoicing and record keeping.
You’ll no longer need to keep a single physical document holding the supply information, such as a tax invoice, credit note, or debit note. Your transaction records, accounting systems and contractual documents may, in combination, contain all the information you need to support the figures in your GST returns.
You can find more information in the handy online tool under ‘Taxable supply information (currently called tax invoices)’ on this page or give us a call to discuss.
