Unfortunately, when working with some small businesses, tax invoices which they issue can leave a lot to be desired for. There is a lot of important information which needs to be included in this small bit of documentation. When this information is missing, the tax invoice can be deemed invalid, causing all sorts of associated problems.

This is a comprehensive list of what information needs to be included in a valid Tax Invoice, as provided by the ATO Website: 

• Words Tax Invoice
• Seller’s name and ABN
• Issue date of invoice
• Description of items sold – including quantity and price
• GST amount included in the price
• Extent to which each sale includes GST
• For sales over $1000, purchaser’s name or ABN

They may look a little something like this:

For an invoice valued UNDER $1000.00 see below:	For an invoice valued OVER $1000.00 see below

Please note that businesses must hold a copy of all tax invoices for purchases over $82.50 including GST.

Still feeling concerned? Contact All Accounted for Bookkeeping via Facebook, or call 0417150555 today for any additional information or help.