Our ATO Community is here to help make tax and super easier. Ask questions, share your knowledge and discuss your experiences with us and our Community.
6 April 2021
Hi, my business dealings are with companies in UK. I purchase and sell goods in Pounds.
1. How to report foreign currency sales and purchase in BAS? Do I need to convert the dealings to AUD while reporting?
2.Invoice date and the transaction date (money received) are different. Which date should I consider when reporting quarterly BAS? I assume it will be transaction date.
Thanks for the help.
Most helpful response
7 April 2021
I've answered you question over on this thread.
Hope it was helpful.
Tell us about your ATO Community experience and help us improve it for everyone.
Australian Taxation Office
Working for all Australians