Whilst the concept of a Goods and Services Tax (GST) may be simple, in practice the legislation is complicated and wide ranging. The rules on GST vary from industry to industry. We can look after all your GST needs including future planning, applying of the margin scheme (for builders / developers) and general business related GST advice.
We can assist you to understand and comply with the workings of the Act. Many times this assists by legally reducing your GST liability.
Besides the general GST services such as registration and lodgment of GST / BAS returns, we can assess your accounting systems and restructure them so as to capture data to comply with legislation and ensure a relevant reporting system is utilised.
Often we analyse your GST reports in order to prepare a short-term budget. This will guide you to allocate the GST payable to the ATO into a separate bank account. As a result, it prevents the spending of money that is owed to the ATO.