A tax invoice:
If you supply goods and services to another GST-registered person, you must provide a tax invoice within 28 days of the purchaser asking for one. It is an offence if you don't supply one after such a request and you may be charged penalties.
The information a tax invoice must show depends on the value of the goods and services supplied. We refer to the required information as "standards". Different standards are required for different tax invoices:
For supplies worth more than $1,000 (including GST), the tax invoice must clearly show:
It must also have either:
If the invoice covers a number of supplies which add up to more than $1,000, all the details listed above are needed.
For supplies worth between $50 and $1,000 (including GST), a simplified tax invoice is acceptable. It must clearly show:
If you don't have a tax invoice, you can't claim a credit on supplies over $50.
A tax invoice is not needed for supplies of $50 or less (including GST). However, it is best practice to keep records for these purchases, such as invoices, vouchers or receipts. At a minimum, record the date, description, cost and supplier of all purchases.
You'll also need these details if you are going to make a claim for income tax purposes.
A shared tax invoice is a single invoice for goods and / or services from multiple suppliers. Two or more suppliers may issue a single invoice to the same customer if:
A shared tax invoice must contain the same information as a tax invoice from a single supplier for supplies exceeding $1,000. As the invoice is from multiple parties, only the principal supplier's name and GST registration number needs to be displayed. This principal supplier is: