Australian businesses with an annual turnover of more than $75,000 must be registered for GST. Charging an extra 10 per cent on top of services sounds simple, yet a number... read more →
Despite the Australian Tax Office’s education campaign on GST reporting, many small business owners continue to make errors when claiming GST credits in their GST returns or Business Activity Statements.... read more →
When selling property registered for GST, the margin scheme can be used as an alternative way to work out the GST payable on a concessional basis. Where the scheme is... read more →
Employers registered for GST may be able to claim GST credits for payments they make to reimburse employees or partners for work-related expenses. Individuals who run a business are entitled... read more →
When a person starts a small business from scratch, they face a number of inevitable decisions. One of these decisions involves deciding whether or not to register for GST voluntarily... read more →
The ATO has announced that one of its compliance focuses for the upcoming year will be GST compliance. The program will involve a combination of compliance and education to help... read more →
GST sounds like a simple enough concept: businesses are required to pay 10% tax on most of the good and services they sell in Australia and include this amount in... read more →
It is common for businesses to make GST errors in their BAS. The majority of these mistakes are unintentional. The ATO recently reviewed all of the BAS adjustments made as... read more →