Tag Archives: GST

International businesses and GST

https://youtu.be/N6AqclwWpqA?si=3Nmy_1ahx0pB38aH International businesses that have sales connected to Australia over a certain threshold may need to register and pay GST in Australia. This applies to electronic distribution platform (EDP) operators that allow merchants to make sales of services, digital products or low value goods to Australian customers; merchants who sell services, digital products, and/or low value...
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ATO’s use of the GST Analytical Tool

Details have been released on the GST Analytical Tool used by the ATO in GST reviews and other assurance matters. Fundamentally, the tool obtains figures from BASs lodged and the financial statement of performance from an entity, and makes various adjustments in order to understand whether the correct amount of GST is being paid relative to the reported economic activity. While this tool is currently only being used for the Top 100 and Top 1000 GST assurance programs, the basic principle could be applied to all GST reviews.

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GST on imports: are you optimising your cashflow?

Looking for opportunities to improve cashflow? If you import goods as part of your business, you don’t have to pay goods and services tax (GST) upfront if you’re registered for the ATO’s deferred GST scheme. Instead, you can defer and offset GST amounts in your next business activity statement (BAS). However, there are some eligibility...
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2015 Federal Budget Summary

The 2015/16 budget announcement was small business friendly and in general well received. We have summarised a number of the key announcements below:


Effective immediately

Small business will be able to obtain an immediate deduction for most depreciating assets costing less than $20,000. The $20,000 threshold applies to each individual asset...
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