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Most helpful response

Most helpful reply

RenATO(Community Support)Community Support
22 Aug 2022

Hi @agm29,


That's fine, accounting methods for GST and income are completely separate.


Whichever method you choose for your income you need to use that method for all your transactions. For example you can't use accruals for some transactions and cash for others. You can read more about Accounting methods on our website.

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All replies

Most helpful reply

RenATO(Community Support)Community Support
22 Aug 2022

Hi @agm29,


That's fine, accounting methods for GST and income are completely separate.


Whichever method you choose for your income you need to use that method for all your transactions. For example you can't use accruals for some transactions and cash for others. You can read more about Accounting methods on our website.

.

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With a trust can I do my income tax using accrual method even though my GST is on a cash basis? | ATO Community