GST In Practice - May 2024 (1 Hour of CPD)

Although GST has been part of the Australian Tax System for almost 24 years, however, it continues to cause headaches for many businesses and advisers.

While a 10% tax may sound simple, the administration, different types of supplies and the fact that the tax applies to MOST goods and services, can lead to many difficulties in practice. 

This practical session will provide an overview of GST in Australia using practical examples and will cover:

The webinar will cover:

• A review of the major principles of GST
• When GST registration is required including defining an enterprise;
• Cash basis and accrual basis for reporting GST
• Whether supplies are made in the course of an enterprise;
• Differentiation between taxable, GST-free and input taxed supplies;
• The components of a valid Tax Invoice
  
• And more..