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GST for SMEs

Published on 05 Nov 2014 | Took place at City West Receptions, West Perth, WA

The GST affects all aspects of a SME’s operations, transaction by transaction. In the vast majority of cases, the GST will have a straightforward and neutral effect for businesses. The GST collected from customers will be remitted to the ATO and the GST paid to suppliers will be claimed as input tax credits. However, in a minority of cases, the GST can be complex and a significant cost if not managed proactively.

This event provided attendees with the tools needed to first identify potential problems and then manage these towards a solution. This included straightforward practical tips which can save both SMEs and their advisors significant costs and stress in this specialist area.

Individual sessions

GST for SMEs

Author(s):  Tim Martino

This paper covers:

  • revisiting the fundamentals
  • some specific areas of contention and complexity in the GST legislation
  • contractual arrangements regarding the GST
  • common BAS errors, potential consequences and correction procedures.
Materials from this session: