gst

An ATO “living expenses” tool to tackle the black economy

  It’s known by a variety of names, such as the black economy, or even the cash or hidden economy. But whatever the label, its existence is a pebble in the ATO’s shoe that it is forever looking to prise out. As part of that ongoing effort, the revenue agency has settled upon different sets

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The same business test replaced by the “similar business” test

  Among the first batch of tax legislation the government dealt with in the new year was Treasury Laws Amendment (2017 Enterprises Incentives No.1) Bill, legislation that contained changes to the “same business” test. It sees the “same business test” supplemented with a more flexible “similar business test” to work out whether a company’s income

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When are digital products ‘connected with Australia’ for GST purposes?

  With the purchase of digital products such as the streaming or downloading of movies, apps, and e-books and so on becoming exponentially more popular, it is timely to examine the recently-introduced law that applies GST to digital products and services imported by Australian consumers. Effective 1 July 2017, GST now applies to digital products

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What clients need to know with regard to “luxury” sets of wheels

  According to the government, a vehicle is a “luxury” if it costs more than $66,331 (for 2018-19) or $75.526 (for “fuel-efficient” cars). It was $65,094 for 2017-18, with the same fuel-efficient price level. The target to be rated fuel-efficient by the way is for the vehicle to use less than seven litres of fuel

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Is that GST for business or private use? Making BAS preparation easier

  Be it vehicles, electronic devices or the home office — many business expenses are also used for private purposes. This means a business must apportion the GST on these costs between private and business use. But how can a business determine exactly how much something is used for work or play? Fortunately, the ATO

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