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WET, GST & the BAS

Newbie

Views 920

Replies 5

Dear ATO Community,

 

May you please help me with how WET is reported on the BAS. Take this scenario:

 

Wine: $100

WET: $ 29 (29%)

SubTotal: $129

GST: $12.9

Total: $141.90

 

When it comes to the BAS:

I assume WET of $29 is reported at 1C Wine equalisation tax

However is the entire $141.90 also reported at G1 Total Sales?

 

Please kindly let me know.

 

Thank you,

 

TP

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Community Support

Replies 1

Hi @Tony_Peters,

 

The entire $141.90 is reported at G1 Total sales.

 

I hope this helps.

 

Thanks,

IssyG

5 REPLIES 5

Community Support

Replies 4

Hi @Tony_Peters , thanks for your question.

Instructions on how to complete your activity statement labels can be found on our website.

WET labels

GST labels

You can also attend our Activity statement essentials webinar which explains how to complete your activity statement.

I hope you find this information helpful.

 

Thanks,

IssyG

Newbie

Replies 3

Hi @IssyG 

 

Thank you for your response. I had checked both of those links prior to posting my question as they both don't answer the question "However is the entire $141.90 also reported at G1 Total Sales?" Smiley Sad

 

Thx,


TP

Community Support

Replies 0

Good morning @Tony_Peters 

Thanks for contacting us!

 

Please see information on G1 total sales that may assist you with your question.

 

Let me know if this still doesn't answer your question.

AngelaG

Most helpful response

Community Support

Replies 1

Hi @Tony_Peters,

 

The entire $141.90 is reported at G1 Total sales.

 

I hope this helps.

 

Thanks,

IssyG

Newbie

Replies 0

Thank you @IssyG