gst

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

[ Read More ]

Top 10 Tax & Super newsroom posts for calendar 2018

  Over the calendar year 2018 there have been many notable tax and self-managed super developments. Apart from bringing news and updates to Tax & Super Australia members and many others, the newsroom page of our website can also serve as a litmus test for what matters most to the tax practitioner community (driven by

[ Read More ]

Inbound tour operators and collecting, and remitting, GST

  A draft practical compliance guideline (PCG 2018/D7) deals with the requirement for “inbound tour operators” to collect and remit GST. An inbound tour operator is an Australian entity that enters into agreements with non-residents to arrange the supply of Australian tour packages (that can include accommodation and non- accommodation components). Whether GST is required

[ Read More ]

Apportioning GST annually for business and private purchases

  The general case regarding GST credits is that business owners can claim input tax credits relating to eligible business expenses when you lodge your business activity statement (BAS), which may be monthly or quarterly. However it is not unusual for business owners to occasionally make purchases that contain a private use component. Where expenses

[ Read More ]