RSM Australia

GST

Are you ATO “review ready”? | Justified Trust and Tax GST Compliance

6 January 2021
As we predicted in our August 2020 Tax Insight (Release of ATO’s n

Space: The final frontier for GST?

16 October 2020
The Technology and Innovation team at RSM share practical GST insights from within the developing Australian Space Industry. Goods and services tax (GST) in Space - is the supply of new and developing technology taxable?

GST treatment for banking products released

2 October 2020
For a number of years, the Australian Taxation Office (ATO) has been revisiting long-held formal and informal positions it has taken with respect to the GST treatment of a range of banking products and financial services. 

GST and tax governance back on the agenda for boards and management

6 August 2020
Release of ATO’s new “GST Governance, Data Testing and Transaction Testing Guide” Summary

JobKeeper and record keeping – what you need to know about projected GST turnover

1 June 2020
JobKeeper payments are now trickling in to give a much-needed boost to the cashflow of eligible businesses which is a cue to remind businesses of the compliance and that it is critical to ensure records are reasonable enough to substantiate any future queries.

Dealing with GST

8 April 2020
For most businesses operating in Australia, GST is fairly straight forward. As many of our clients are quick to remind us, ‘you just add 10%.' 

Directors beware – lifting the company veil for GST and other indirect taxes

2 March 2020
Generally, the unpaid debts of a company are not recoverable against the company’s directors.

GST nuances – from the world’s oldest profession to it’s newest

13 March 2019
Almost 20 years on from the introduction of GST in Australia by then-Prime Minister John Howard and who’d have thought that robust deliberation on its application continues.

New GST withholding rules - what property purchasers and developers need to know

24 May 2018
The Federal Government has passed legislation that will require purchasers of new residential properties to remit the GST directly to the Australian Taxation Office (ATO) as part of settlement. The measures were first announced in last year’s Federal Budget. The legislation specifies: 

New GST Legislation released - Developers and Home Builders beware

10 November 2017
On 6 November 2017, Treasury published an Exposure Draft of legislation that will require purchasers of new residential premises and lots in new residential subdivisions to pay an amount equal 1/11th of the

Australian GST: low value threshold (LVT) changes a step closer

12 May 2017
With a low value threshold (LVT) set at AUD$1,000, Australia has been very much at the ‘generous’ end of the global spectrum of GST-free imported goods, to the benefit of Australian consumers and the chagrin of Australian retailers.