Published on 13 Mar 04
by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE
Practitioners should not be lulled into a false sense of security because the transition into GST has taken place quite smoothly. You should be aware there are a number of outstanding issues. Some of these issues have been the subject of recent ATO audits.
This convention paper will explore some of those pertinent
GST issues, including:
- what are the common errors: property, contracts, margin scheme; FBT, GST interaction for non deductible amounts; attributing GST to the correct period; and are your clients making interest free loans unnecessarily to the ATO?
- self audits - is there a return?
- managing the risk - creditable percentages for CTP & general insurance.
David is a Director of KPMG and specialises in indirect tax advice including GST. He joined KPMG in 1994 following a 17 year career with the ATO. David provides advice to clients in relation to GST risk and has dealt with the ATO in GST risk reviews, sampling and audits. During this time he has been acquainted with many aspects of GST adjustments. David is a highly regarded presenter of technical papers to the accounting and taxation profession.
Current at 23 February 2006