Fair enough rebel as I said it is not technically correct but the bottom line result would still be the same apart from a slight timing issue at the end of the financial year. At this point you would have claimed as a deduction GST that you are also claiming a credit for but I asume you would not treat the refund of GST as income until it is received in the new financial year.
Treated properly GST is not an income or expense item to a GST registered business it is an asset or liability.
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- got my own abn yesterday for my trading
Fair enough rebel as I said it is not technically correct but...
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