Invoice template tips for builders and construction workers in Australia
If you run a building company or are a self-employed construction worker, you’ll probably issue invoices for your work. But does your invoice template comply with Australian Tax Office (ATO) requirements? Here are some tips.
Any print shop should be able to quote you for a branded invoice design, but you’ll need to add the obligatory information when you write each invoice. Alternatively, search online for free Word or Excel invoice templates, making sure they are compatible with ATO regulations.
In line with ATO guidelines, you should include the following on your invoice template:
You can include GST as a single amount using words such as ‘Total price includes GST’ if your invoice is for less than $1,000 in total and all items on it are subject to 10% GST. If the invoice is for more than $1,000, the GST amount must be featured beside each item.
Not sure about GST? Find out if you have to charge it in our Business basics for sole traders article.
In addition to your invoices for building work ticking all the ATO compliance boxes, they could also include a few things that may help speed up payments. Things such as:
Invoicing is often the last thing on the mind of a busy builder, and the paperwork is often delayed. With the right invoicing solution, you can make invoicing quicker and easier – and the faster you get your invoices out the faster you may get paid.
The information in this article is general in nature; does not take your objectives, financial situation or needs into account. Consider its appropriateness to these factors; and we recommend you seek independent professional legal and/or financial advice about your specific circumstances before making any decisions. Westpac does not endorse or guarantee the accuracy of any third-party templates. You should make your own enquiries and seek professional legal advice where required.