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Entering Grant Income on BAS

Newbie

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Hello,

 

We are a NFP group that has just recieved two grants, one of these grants included an amount to cover the GST in the funding request, the other did not. How do we enter this on the BAS form please.

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ATO Certified Response

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Hi @MCShed ,

 

Thanks for your question.

 

Goods and services provided in return for government grants and some private sector grants are reported at G1 total sales.

 

There are instances where GST will and won't apply to a grant you've received, see;

Grants and sponsorship

 

Completing your BAS for GST provides direction on how to complete your BAS in relation to grants received.

 

I hope this helps and let us know if you have any further questions,

JasonT

1 REPLY 1

Most helpful response

ATO Certified Response

Community Support

Replies 0

Hi @MCShed ,

 

Thanks for your question.

 

Goods and services provided in return for government grants and some private sector grants are reported at G1 total sales.

 

There are instances where GST will and won't apply to a grant you've received, see;

Grants and sponsorship

 

Completing your BAS for GST provides direction on how to complete your BAS in relation to grants received.

 

I hope this helps and let us know if you have any further questions,

JasonT