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GST - ATO Compliance and Concession

Published on 21 Oct 2014 | Took place at Australian Institute of Management SA, Hindmarsh, SA

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 a source of real complexity and a significant cost if not managed carefully and proactively.

Issues such as certain property and financial transactions, special modified timing rules for certain types of supplies, statutory GST clawback provisions, certain provisions and administrative practices specifically impacting on trusts and partnerships and exceptions where the GST must be calculated at more or less than 10% of the value of a taxable supply can all cause problems. Errors can prove highly costly, as demonstrated by the large number of GST cases in the courts and the AAT, the difficulty obtaining refunds for past GST errors under the former s.105- 65 of TAA Sch 1 and the new Div 142 of the GST Act, and the approach taken by the courts in interpreting GST clauses in the event of disputes between parties, which can lead to outcomes very different to the expectations of a taxpayer.

This event provided attendees with the tools needed to first identify potential problems (the red flags) 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.

Get a 20% discount when you buy all the items from this event.

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:

GST - ATO compliance and concessions

Author(s):  Phil Shepherd,  Joshua Greeneklee

This presentation covers:

  • general GST compliance matters
  • recent developments in GST
  • everyday GST compliance issues
  • complex GST Issues.




Materials from this session: