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MyGreatIdea
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Damoz, post: 122010 wrote:
Hello, forgive me if this is a stupid question

What we think is a stupid question is very often the question that everyone else wants to ask, but is afraid to !!

I have registered as a sole trader and have an ABN and will obviously need to lodge BAS for this Financial year?

Have you registered for GST?

It is confusing me because the purcchace of the goods was last F/Y and the GST will be payed this year.

Assuming you ARE registered for GST the date the GST is paid is irrelevant to your cost of goods and profit/loss as it’s never your money anyway. If you confirm that you’re NOT registered for GST then the answer will be different.

Wendy :)