Tax invoice format for GST

07 June 2020 | Finance

The format of Tax Invoices that accompany your monthly Statements has been enhanced to better comply with Australian Taxation Office (ATO) and NZ Inland Revenue (IR) requirements.

The improvement provides clarity on which invoice line items are taxable sales. If an invoice line is taxable, the tax invoice clearly states the GST payable.

In Australia for example, it is an Australian Tax Office requirement to identify which line items attract GST and which do not.

Here is an extract from the ATO's website page on tax invoices.

Taxable and non-taxable sales

A tax invoice that includes taxable and non-taxable items that are either GST-free or input-taxed, must clearly show which items are taxable. In addition, the tax invoice must also show:

each taxable sale

the amount of GST to be paid

the total amount to be paid.