Published on 18 Mar 05
by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA
The emerging GST risk areas covered in this paper include:
- assumption of vendor liability in a sale of business
- GST audit experience
- Commissioner's discretion for non complying tax invoices
- recipient created tax invoices - when to use them and what formalities are required
- what to do if I fail to remit GST on B to B transactions?
- sale of capital assets
- GST timing issues - what to do if you have remitted GST at the incorrect time, or claimed input tax credits in the wrong tax period
- entertainment - FBT and GST interaction
- deposits and prepayments.
This paper was also presented by John Haig on 15 October 2005 at the Tasmanian State Convention held in St Helens.
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