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GST for food retailers – Simplified accounting methods

Describes the simplified GST accounting methods (SAMs) for food retailers and explains when they can be used.

Last updated 22 October 2019

Five simplified accounting methods (SAMs) have been designed for food retailers that buy and sell a mixture of products, where some are taxable and some are GST-free.

You can choose one of these SAMs to help work out your GST for each tax period. If you decide to use a SAM, you must tell us the method you are going to use.

You can't use these methods to set your prices. You must set your prices in line with the Australian Competition and Consumer Commission's (ACCC's) guidelines.

Choosing a SAM

There are five simplified accounting methods you can use to estimate your GST-free sales and purchases.

Eligibility for SAMs

Determine whether you are eligible for the simplified accounting methods.

Notifying us

If you decide to use a simplified accounting method, you must notify us.

Business norms method

Check whether you meet the conditions to use the Business norms method. This is the simplest method.

Stock purchases method

Check whether you meet the conditions to use the Stock method, which is designed for businesses that are resellers.

Snapshot method

Check whether you meet the conditions to use the Snapshot method.

Sales percentage method

Check whether you meet the conditions to use the Sales percentage method.

Purchases snapshot method

Check whether you meet the conditions to use the Purchases snapshot method.

Completing your activity statement

How to complete your activity statement if you choose to use a simplified accounting method.

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