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GST - Managing risk and opportunity in a changing world paper

Published on 02 May 13 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

The GST has been with us for almost 13 years. Many concepts and issues that are essential to the administration of GST remain unsettled. The meaning of central concepts such as “supply”, “consideration” and “nexus” continue to evolve. This can make GST a very complex tax to administer but to some extent many businesses regard GST as a form-filling exercise and do not consider the impact it can have. This means that risks and opportunities are not fully considered and GST may be a real, but hidden, cost waiting to be discovered. 

This paper covers:

  • what is the ATO finding in their reviews of the SME sector
  • are there GST opportunities available and how do you find them
  • recent cases – do they create risk or opportunity and how do you take advantage of them
  • good GST governance – striking the right balance between risk and opportunity
  • the year ahead – what changes do we expect and how should you prepare for them?

Author profile:

Matthew Nicholls CTA
Matthew Nicholls is an Executive Director with EY’S Adelaide Tax Practice and specialises in Indirect Tax matters. Matthew has over 24 years’ experience in working with tax. He spent 14 years working in the ATO and was involved with establishing the GST presence in the Adelaide office. Matthew has worked for EY for over 10 years and specialises in providing technical advice, assisting with compliance issues and with the implementation and use of data analytics for clients. Matthew co-chaired The Tax Institute’s National GST Subcommittee for 3 years until 2015, is the chair of the SA Technical Committee and sits on the ATO’s GST Advisory Group. Current at 10 February 2016 Click here to expand/collapse more articles by Matthew NICHOLLS.
 

This was presented at 46th South Australian Convention.

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Individual sessions


SME risk differentiation framework

Author(s):  Scott BRYANT,  Michael CRANSTON

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