Category Archives: GST

How to Prepare for a Tax Office Visit

How to Prepare for a Tax Office Visit

The Tax Office is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy.   This financial year, the ATO has visited 22 regions with another four in progress. Next financial year they plan on visiting over 10,000 businesses.   The ATO is seeking to identify businesses that are hiding sales, paying cash in hand, or are […]

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Tax time: Are you in the ATO’s sights?

Tax time: Are you in the ATO’s sights?

Tax time: Are you in the ATO’s sights?  A consistent theme this tax time is overclaiming and under reporting. With the Australian Taxation Office (ATO) getting more and more sophisticated in its data matching approaches, taxpayers can expect greater scrutiny where their claims are more than what is expected. We take a look at the key issues for you, your business and your SMSF.  […]

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Election 2019: A vote for continuity in an uncertain world

Election 2019: A vote for continuity in an uncertain world

The Liberal/National Party Coalition has been returned to government, as Australians chose continuity over change and cautious economic management over Labor’s ambitious reform agenda.  Although Prime Minister Scott Morrison’s election spending promises were more modest than Labor’s, they will still deliver economic stimulus in the form of personal tax cuts and other initiatives. This is […]

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What will the budget mean to you?

Working Australians have been promised bigger than expected tax cuts along with billions in increased spending on health and welfare for young and old. This was all made possible as Treasurer Josh Frydenberg delivered the good news that the Budget will soon be back in surplus for the first time since the GFC. The only […]

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How tampons became a political debate

How tampons became a political debate

GST is applied to tampons but not to incontinence pads. Viagra is exempt from GST but nipple shields for breast feeding mothers are not. Breakfast cereals are GST-free but breakfast bars and drinks are taxable. We explore the political football of GST exemptions. Australia’s goods and services tax (GST) is messy. To ensure that the […]

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