Full (detailed) GST reporting¶

Most small businesses use the short, three-label Simpler BAS. But larger businesses, and some that choose it, use full reporting instead. Full reporting asks for a more detailed breakdown of your sales and purchases, so there are more goods and services tax (GST) labels to complete.

This lesson explains who has to use full reporting and how it differs from Simpler BAS.

Why this matters¶

If your business grows, the way you complete your activity statement can change. Knowing when full reporting applies means you are not caught out by extra labels appearing, and you understand why a bigger business fills in more of the statement than a small one.

What you will learn¶

• When full GST reporting applies
• The extra GST labels full reporting requires
• How full reporting differs from Simpler BAS

Understanding the concept¶

The Australian Taxation Office (ATO) uses your GST turnover to decide which method you use. GST turnover is, in plain terms, your business income for GST purposes.

• If your GST turnover is under 10 million dollars, Simpler BAS is the default and you complete only three GST labels.
• If your GST turnover is 10 million dollars or more, you use full reporting.

Some businesses under the threshold also choose full reporting, or are on it for another reason, but the 10-million-dollar figure is the point at which it is required.

Under full reporting you complete the total-sales label G1, plus these extra labels that Simpler BAS skips:

• G2 — Export sales
• G3 — Other GST-free sales
• G10 — Capital purchases
• G11 — Non-capital purchases

You still complete the GST summary labels 1A (GST on sales) and 1B (GST on purchases), the same as under Simpler BAS. The difference is the extra breakdown labels and, often, a GST calculation worksheet to help you work the figures out.

So the two methods share the same starting point — G1, 1A and 1B — but full reporting adds the detailed sales and purchase categories on top.

Example¶

Jordan runs a growing food wholesaler. For years the business was small and used Simpler BAS, filling in just G1, 1A and 1B. As the business expands, its GST turnover reaches 10 million dollars, so it moves to full reporting. Now Jordan's activity statement asks for more detail — the export sales at G2, other GST-free sales at G3, capital purchases at G10 and non-capital purchases at G11 — as well as the total sales at G1 and the GST summary at 1A and 1B.

The GST that Jordan's business owes is worked out the same way as before. What changed is the level of detail on the statement, because a larger business reports more of the breakdown.

Common mistakes¶

• Assuming every business uses Simpler BAS — larger businesses use full reporting.
• Thinking full reporting drops G1, 1A or 1B — it keeps those and adds more labels.
• Guessing the threshold — full reporting applies at a GST turnover of 10 million dollars or more.

How this works in myaccountant¶

Key points¶

• Full reporting applies to a GST turnover of 10 million dollars or more.
• Some businesses under the threshold also choose or are on full reporting.
• Full reporting adds G2, G3, G10 and G11 on top of G1.
• The summary labels 1A and 1B are completed under both methods.
• Simpler BAS is the short, three-label method; full reporting is the detailed one.

Learn next¶

• What is Simpler BAS?
• The Simpler BAS GST labels
• Who is eligible for Simpler BAS?

General information only — not tax, super or financial advice.