Business owners, sometimes suppliers will offer a discount if you pay in cash for their goods and services.
This may seem like a win but only take this up if you are provided with a proper tax invoice as well as a receipt of payment!
You will need this invoice to substantiate your expense and to claim any GST credits.
The proper tax invoice should include
• The words ‘tax invoice’
• The name of their business and ABN
• The date
• Your details
• The gross amount charged and the GST amount.
Make sure your expense claim is justifiable at all times.