Sorry to drag an old post up. Not seeking advice, merely trying to get my head around it all and will approach an accountant when the time is right (also don't want to sound like a peanut on entry!).
One for
@krusty900
I've found myself in a similar position as you at the time only five years later.
Any feedback/ key tips from that period would be appreciated.
Did you end up claiming the loss against your assessable income for that year or was it carried forward?
One for
@ddzx
Claiming a 75% GST credit and submitting BAS. What sections of the BAS are required to be completed in regards to this;
Via simplified reporting;
G1- Total sales; Are you required to report this section?
1A- GST on sales; N/A
1B- GST on purchases; 75% of any claimable GST
A forward thank you to any replies.
Dion
