Have you ever wondered whether selling your property could result in a Goods and Services Tax (GST) liability? For those involved in typical residential property transactions within Australia, there’s a slim chance that GST will apply to the sale. However, as the person selling the property, it’s crucial that you fully understand GST on property…
In today’s competitive business environment, understanding how different tax regulations impact your small business is essential. The good news for you is that certain items and transactions are considered GST free supplies, which means you don’t have to pay Goods and Services Tax (GST) on them. But how does this work, and which items are…
No doubt you’ve heard of GST – the Goods and Services Tax. But what is it all about? How much do you need to pay? What can and can’t be claimed as an expense for GST purposes? We aim to address these questions and more so you can get your head around one of the…
When running a business in Australia, understanding the Goods and Services Tax (GST) is essential for accurate taxation and smart financial management. GST is a comprehensive tax imposed on the majority of merchandise, services, and other items purchased or consumed within Australia. GST is a complex tax system; therefore, it is essential to learn how…
In our ongoing discussion about the complex aspects of GST tax, we continue to emphasize that GST is not always as straightforward as simply applying 15% to supplies or expenses. One particularly intricate area within GST pertains to claiming input tax credits when assets are used for making both taxable and exempt supplies. Navigating the…
It’s crucial to stay up-to-date with tax regulations and adhere to the requirements for filing GST returns and paying taxes on liabilities. If you’re looking for ways to make the most out of your tax obligations. Stay with us, and we’ll walk you through how to streamline the process, make it easy, and discuss key…
Goods and Services Tax, is a consumption tax that has been adopted in many countries across the globe. It simplifies the previous system of multiple indirect taxes by introducing uniform rates for goods and services. Benefits include reduced tax cascading, increased compliance, and economic growth; however, it can also impact consumer prices, business processes, and…
In New Zealand, there is a tax on the consumption of goods and services called the Goods and Services Tax (GST). Businesses having an annual turnover of NZD 60,000 or more are required to register for GST, which is levied at a rate of 15% on the majority of products and services. This article will…
Do you need help to calculate your Goods and Services Tax (GST) late fees accurately? Don’t search any longer; your solution lies in the GST late fee calculation! This invaluable tool simplifies the complex process of determining late fees for GST returns. Introduced to update the tax compliance process, the calculator takes into account the…
Are you an Aussie business owner? If so, understanding GST registration is a must for your success. Goods and Services Tax (GST) is the lifeblood of Australia’s taxation system – whether it’s your first time or expanding operations, this post will be like having a map to guide you through the entire process! We’ll take…