Tuesday, August 16, 2011

How would we record commission payments on our BAS?

I would like to have students and others place our advertisements on noticeboards and pay a commission. As far as I can tell, I have two options. If they have an ABN (unlikely) invoice them and keep 10% gst. If no ABN, invoice them and keep 46.5% (top marginal rate). Is this correct and how would I write this on our BAS?

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