The ATO has reported that some businesses are making simple mistakes reporting their GST. The ATO reminded taxpayers to avoid the following common GST reporting errors: Transposition and calculation errors No tax invoice  Transaction classification  Accounting systems  If a taxpayer finds a mistake made on a previous activity statement, the ATO says they can: correct the error on a later activity statement if the mistake fits the definition of a “GST error” and certain conditions are met; lodge an amendment – the time limit for amending GST credits is 4 years starting from the day after the taxpayer … Continue reading ATO flags common GST reporting errors and how to correct