How to claim GST

How to claim GST

   

Must our Formation be using Xero to claim GST?

Yes, the Formation must be using Xero to claim the GST.  This is because Branch Support Office has access to the Xero file, therefore the GST can be reviewed for compliance prior to lodgement with the ATO.  Please ensure supporting paperwork is attached in the Xero file.

What resources are available to assist me to understand GST?

There are two GST information on the Scouts Qld Knowledge Base that may be off assistance to you: 

GST For Formations Frequently Asked Questions

GST Fundamental Frequently Asked Questions 

What GST settings are required in Xero?

Confirm that your organisation’s financial settings are correct:

GST Accounting Method – Accruals Basis

GST Calculation – Quarterly (Option 1).  Do not select simple BAS.

 

Steps to claiming GST


  1. Ensure All Bank Accounts are reconciled. 


  1. Produce a Bank Reconciliation Summary Report to ensure that your balance in Xero matches your statement balance. 


  1. Produce an Activity Statement for the Quarter


  1. Based upon the review of the Activity Statement make any necessary changes. 


  1. When you are happy that the report is true and correct, publish the report.


  1. Set the lock dates in the organisation’s financial settings to lock the period and ensure that prior periods are not accidently changed. 


  1. You lodge your claim by submitting the GST claim form – refer the attached link  Lodge Your Claim


Recommendation

We recommend that you lodge the GST in quarters using the above claim form eg March, June, September and December.  If you are unsure that you have claimed GST correctly, please submit one quarter only, so that errors are not repeated throughout other quarters.

Feedback

We welcome feedback and suggestions on GST claiming. 

Please contact us by emailing financehelpdesk@scoutsqld.com.au so that we can answer your questions or to provide you with assistance.


    • Related Articles

    • GST Fundamentals

      What are a Formation’s GST obligations? This depends on the turnover of your Formation. If your Formation earns less than $150,000 in revenue per annum you are not obligated to account for GST.  However if the Formation earns over this threshold ...

    • GST for Formations

      Commercial & Non-commercial activities With regards to Commercial Activities the ATO advises the following:  “The commercial activities of an endorsed charity, gift deductible entity or government school are taxable but the non-commercial activities ...

    • Accounting Procedures

      General guide to Executive Committee Members on Accounting Procedures, refer the attachment. If yo have any queries, please contact financehelpdesk@scoutsqld.com.au

    • Xero Start Up Guide

      Why should I use Xero?  The main benefit provided by Xero is the automation of manual processes.  Xero replaces the manual cashbook and receipting system and also removes the need for spreadsheets and paper documents, as Xero provides a central ...

    • How to account for expense claims

      Xero Expense Module There is an expense claim add on available in Xero but it has an additional cost per user. This article provides details of an alternative option to avoid that cost. Xero option Formations have an option to provide Leaders and/or ...