Correcting GST and Fuel Tax Errors in Australia

• Errors in reporting GST or fuel tax claims on a past BAS can be corrected on the next BAS.
• Credit errors include reporting a GST sale twice, overstating GST on sales, and overstating an increasing fuel tax adjustment.
• Debit errors include understating GST on sales, claiming GST credits for a purchase twice, and overestimating fuel tax credit claims.
• Debit error value limits have increased for businesses with an annual GST turnover of less than $20 million.
• Complete and accurate records should be kept to support claims.
• The fuel tax credit calculator should be used to apply correct rates when claiming fuel tax credits.
• Tax or BAS agents can assist with tax-related issues.

Source: ato.gov.au

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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