General Receipt

What is a General Receipt?

A General Receipt, often simply known as a "Receipt", is a document by which a person or business provides written acknowledgement that they received something from another person or business.

Receipts are most often used in situations of sale, such as a sale of goods or the provision of services. Receipts may also be provided for documents and monetary transactions (such as the fulfilment of a debt or other obligation) as well as charitable donations.

What are the different types of General Receipt?

This document may be used for a variety of different purposes, including:

• Monetary Receipt: to show that money has been received (for example, after a bill has been paid).
• Goods Receipt: to show that goods have been received.
• Services Receipt: to show that services have been received.
• Document Receipt: to show that specific documents have been received. This is useful for important documents such as property titles, wills, or birth certificates.
• Donation Receipt: to show that a donation has been made.
• Other: the document also includes an option for "Other type of Receipt", allowing any type of receipt to be created.

What is the difference between a General Receipt and a Rent Receipt?

This General Receipt is for use in a wide range of situations, such as a sale of goods or the provision of services. It may also be used for documents and monetary transactions (such as the fulfilment of a debt or other obligation) as well as charitable donations.

On the other hand, a Rent Receipt is specifically designed for a landlord to provide a tenant after receiving rent for a property. It has more specific terms related to the rental property.

What is the difference between a General Receipt and a Tax Invoice?

A General Receipt is used to provide proof that something has been received, whether payment, goods, documents or something else.

A Tax Invoice is used to request payment. The sender is able to provide detailed information about the goods or services that have been provided, as well as specific information as required under Australian taxation laws.

Is it mandatory to have a General Receipt?

Businesses must provide a receipt to consumers for anything that costs over $75. For anything that costs less than $75, the consumer can ask for it and the business must provide it within 7 days.

What are the prerequisites of a General Receipt?

Ideally, the General Receipt should be handed over at the same time that the relevant thing has been received. It should not be handed over beforehand, as it serves as proof that the thing has actually been received.

Under section 100 of the Australian Consumer Law, if a business is required to provide a Receipt, then it should be provided as soon as practicable after the goods or services have been provided.

What has to be done once a General Receipt is ready?

This document should be completed in full and printed, then signed by the issuer of the Receipt. The issuer of the Receipt may wish to take a copy for their records. The original signed Receipt should then be given to other party, preferably at the time that the relevant thing (whether money, goods, services, documents or something else) is actually received.

It is also good practice to ask for the Receipt to be signed by the other party as this will confirm the statements set out in the Receipt.

What must a General Receipt contain?

For businesses that are providing receipts to consumers, the receipt must contain:

• the name of the business that is providing the receipt.
• the business's Australian Company Number (ACN) or Australian Business Number (ABN).
• details of the relevant product or service.
• the date the product or service was provided.
• the price of the product or service.

Which laws are applicable to a General Receipt?

Section 100 of the Australian Consumer Law requires suppliers to provide a receipt to consumers for anything that costs over $75 (excluding GST). For anything that costs less than $75, the consumer can ask for it and the business must provide it within 7 days. The Australian Competition and Consumer Commission also provides some guidance.

Under the A New Tax System (Goods and Services Tax) Act 1999 there are some additional requirements regarding the provision of a Tax Invoice (rather than a receipt). Please note that if a tax invoice is required, then we have a separate Tax Invoice document which may be used. The Australian Taxation Office provides guidance in relation to tax invoices.

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