Are you a NDIS or health service and are needing some help with your bookkeeping?
Well first we need to discuss BAS returns and why you should be registered.
BAS RETURNS
As a registered NDIS provider or certain health services all of your income would most likely be GST Free, this means that when you invoice for a service then you do not need to add GST to the price this means you won’t need to pay any GST to the ATO.
You are still able to claim GST on expenses, for example if you go the service station and buy fuel you can claim the GST amount that you paid back as a refund from the ATO.
If you go out and buy a car or some large purchase you can also claim that GST back on your BAS returns, this means that when you go to lodge your BAS returns then you will get a refund into your bank.
If you’re not registered for GST we can do this for you at https://www.clientsneeds.com.au and I am sure the refund will cover our fees.
NDIS & Health Services Bookkeeping
So how do we get these BAS Returns lodged? Well, that is with quality bookkeeping, we need to make sure all your transactions are entered, and the bank is reconciled before we can prepare the BAS.
Should you do this yourself? No, I don’t think an owner should do their own bookkeeping as they don’t have the training or education, there may be doubled up income or unclaimed costs or overclaimed GST.
Not to mention there are some bookkeeping fundamentals that needs to be completed which as an owner you won’t know about as that isn’t something you have been taught.
Health Services
Not all health services are GST Free on income there is a list on the ATO website Other health services | Australian Taxation Office . There are medical services which are GST free that is a Service for which a Medicare benefit is payable, or any other service supplied by on or behalf of a medical practitioner or approved pathology practitioner that is a necessary treatment or supply.
Some medical services are not GST free including cosmetic procedures for example removal of a tattoo.
For a health service that is not defined as a medical service to be GST-free, it must be one of the following:
- an Aboriginal or Torres Strait Islander health service
- acupuncture
- audiology or audiometry
- chiropody
- chiropractic
- dental
- dietary
- herbal medicine (including traditional Chinese herbal medicine)
- naturopathy
- nursing
- occupational therapy
- optometry
- osteopathy
- paramedical
- pharmacy
- psychology
- physiotherapy
- podiatry
- speech pathology
- speech therapy
- social work.
The service must be one of the listed services and cannot just be similar to one of these services.
Massage Therapy
Massage therapy is a tricky one, this service is not GST Free unless it is to do with one of the above listed services for example physiotherapy.
There are also third-party services that are GST Free, if you are massaging a client on behalf of another business then that service is also GST free for example an insurance company or a government agency.
If you would like help with your NDIS & health services bookkeeping then just contact us at this link Contact Us and we will sort out your NDIS & health services bookkeeping.
