Goods and Services Tax appears simple at first glance, however when it comes down to what is subject to GST and what is not, this is where our expert guidance can save you headaches and give you peace of mind.

Did you know that you can’t claim GST on bank charges?

This is because no GST was included in the charge to you in the first place.  This is a common error we see daily.

 Are you clear about which food items attract GST?

When this law was introduced, no GST was charged on fresh food.  Since then, many other items have been included on the list because they are deemed to be necessities of life.  We can help you sort this out.

 If you own a rental property, can you claim GST on purchases?

Generally speaking, the answer to this is no, but there are important exceptions to this and you need to be aware of them.  It also has important consequences on the amount you need to borrow to fund the purchase of the property.  Speaking to us before you buy an asset can save you problems later.

If you are a property developer, are you aware of the complex rules for claiming the GST on your constructions and sales?

In recent years the ATO have scrutinised the GST claimed by property developers.  It is a poorly understood area by many.  We have long standing experience in this area and by speaking to us, you can be assured that your GST treatment is correct.

We can help you with:

• Applications for ABN and GST registration
• Advice on record keeping and all GST issues
• Preparation and lodgement on monthly, quarterly or annual Business Activity Statements BAS.

Disclaimer:
The above services are provided by Stanley & Stewart Accountants Pty Ltd ABN 76 114 691 673, trading as Stanley & Stewart Chartered Accountants, a company that is not licensed to provide financial planning services.
Any financial planning services required are provided by Stanley & Stewart Financial Planning Pty Ltd ABN 97 611 554 299, an Authorised Representative of Politis Investment Strategies Pty Ltd ACN 71 106 823 241 AFSL No 253125.
Liability limited under a scheme approved by Professional Standards Legislation.