You do not need to spend time going through all the invoice templates available on the internet. We have created a free invoice forms that you can easily edit or download to your computer. Select your preferred format and start using the template now.
Download the template example in Word , Excel or Google Sheet
Download the template example in Word , Excel or Google Sheet
Download the template example in Word , Excel or Google Sheet
Download the template example in Word , Excel or Google Sheet
The single GST rate in Australia is 10%. Only businesses registered for GST are charging GST on their tax invoices. Learn more below.
When starting a new business, you will not be registered for GST by default. You will need to get an ABN and add it to every invoice. If you register for GST, you will start generating and sending tax invoices. Only GST registered businesses will include the title 'Tax Invoice' on their invoices.
The difference is that a tax invoice will include GST details. The Australian Taxation Office (ATO) defines six reasons for mandatory registration for GST:
Every Australian business needs to lodge an annual tax return, stating all your income and expenses for the previous financial year. A financial year starts on 01 July and finishes on 30 June next year.
If you register for GST, whether it is a voluntary or mandatory registration, you will be required to lodge your quarterly Business Activity Statements (BAS). On this statement, you will state your quarterly revenues, GST charged on the revenues, and GST from the expenses.
BAS can be lodged via the ATO portal, as part of the MY GOV app and online dashboard. Based on the result, you will be required to pay the difference between the GST on the revenue and expenses.
In your BAS, ATO can also calculate a prepayment on your future tax return which will be based on the expected income in the current financial year and your previous taxable income.
