When do I need Receipts?

More generally, the ATO small business website explains the records you need to keep as a small business, includes records supporting expenses.

Practically, we use the ATO rules on when you claim a GST credit as a guide on when you should have a receipt, as this sets a reasonable guide for order of magnitude and can be subject to audit.

According to this:

You must have a tax invoice to claim a GST credit for purchases that cost more than $82.50 (including GST).

For (minor) expenses below this, other methods of substantiation can be used (eg a line on a bank statement, xero feed etc).

If you are an employee wanting to claim back an expense, you should snap a copy of the receipts to include in your expense report for your employer to claim back.  Note that many employers have a straight forward "No receipt, no reimbursement" policy - ie you effectively need a receipt for reimbursement even if its a $4 coffee.


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