Published on 26 Jul 1999
| Took place at Rydges Plaza, Cairns
Topics include: general introduction to GST; GST tips, traps and timebombs (transitional issues); GST for the accountant and lawyer; GST free supplies including the exemptions; GST's impact on property transactions; anti-avoidance rules.
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Author(s): Charles A DUTHIE The author describes GST in a single sentence as "a flat tax collected on all goods and services which are connected to Australia and supplied by a registered enterprise, which are not GST-free or exempt supplies". He examines the core sections of the Act, the definition of terms and the application of the Act, together with its deficiencies.
Author(s): Brian J RICHARDS Accountants and lawyers are key elements in the successful implementation of the New Taxation System, and the merging of their respective skills will minimise the risks associated with GST. Most professional practices will be required to register and to comply with the GST regime. The GST issues discussed include taxable supplies, pricing requirements, compliance, and cash flow.
Author(s): Brian J RICHARDS The GST will have a significant impact on the property market. To determine the extent of impact, it is necessary to review some of the GST basics for their affect on basic transactions. The paper covers the concept of supply, GST free and input taxed property transactions, attribution, transitional rules, rental income, and property management.
Author(s): Harry M RIGNEY Discusses provisions that have been introduced to stop people avoiding the GST. Provieds a general overview, the Commissioner's powers, the penalties, and other points that need to be considered.