Goods and services tax (GST) is a broad-based tax of 10% on most products and services sold or consumed in Australia.
NOTE: Should you register for GST? Click HERE to learn more.
When you first set up your Rounded account, GST will be switched off by default. GST is managed in the Taxes section (Settings > Taxes)
The GST can be toggled on and off during a free trial.
NOTE: If you are GST registered, you will need to choose the Pro plan for your subscription. Non-GST registered users can choose the Starter plan.
If GST is turned on, you'll notice the following
The ability to add GST to invoices and expenses:
Invoices will be Tax Invoices:
Rounded will track GST for your BAS returns, which you can see in real-time in the Activity Statements section:
I'm on the Starter plan and have just registered for GST. Can I turn GST on?
You will need to upgrade to the Pro Plan first.
NOTE: Click HERE to learn more about upgrading from Starter to Pro plan.
Remember to download the Rounded mobile app!
