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Re: JobKeeper - Cash vs accruals

I'm new

Views 787

Replies 4

Hi,

 

Can a sole trade claim use accruals to workout the fail in turnover, if there BAS is sumbittted using the cash method??

 

I have looked everywhere and it appears there is no direct answer to this question.

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Community Support

Replies 2

Hi @MikeAU,

Thanks for reaching out, there is some additional information about cash and accruals on the basic test page which may help you.

Wishing you all the best, SueO

 

** The link in this post has been updated **

4 REPLIES 4

Enthusiast

Replies 0

Yes you can choose to compare using cash or accrual basis. However, the ATO has announced recently that if you choose to compare using the method that is different from your BAS reporting, you need to be able to explain why if you are asked.

Most helpful response

Community Support

Replies 2

Hi @MikeAU,

Thanks for reaching out, there is some additional information about cash and accruals on the basic test page which may help you.

Wishing you all the best, SueO

 

** The link in this post has been updated **

Newbie

Replies 1

Hi the links do not work.  But thanks.

Community Support

Replies 0

Hi @ShepShep

 

Thanks for getting back to us.

 

We have corrected the link in our previous response.

 

All the best.

 

Thanks, Chris