Eftpos Receipts vs Tax Invoices
Not everyone knows that there is a difference between a tax invoice and an Eftpos receipt. For tax compliance, you need to provide tax invoices for your expenses. As an Eftpos receipt does not provide all the information that a tax
To be a tax invoice, a document must clearly display the following:
- The company’s name
- The ABN (Australian Business Number
- A description of what was purchased
- The quantity and price of product
- Date it was issued
- Total price including GST if applicable
- Amount of GST or note GST included in price
- Be clearly labeled Tax Invoice
As you can see the Eftpos receipt doesn’t show:
- How much GST was included in the purchase
- The company's ABN
- Description of what was purchased
For more information on tax invoice requirements, you can check out the ATO website here.
