Australian Newsagency Blog

A blog on issues affecting Australia's newsagents, media and small business generally.

Check your GST handling

Mark Fletcher
September 3rd, 2017 · 1 Comment

Ask your accountant to check how you handle GST in your business from the arrival of goods to sales across the counter through to your record keeping.

It is better that you discover and correct any mistake in your handling than it being discovered by the ATO in an audit.

I have seen one newsagency mishandling GST calculations resulting in an overpayment to the ATO in the six figure range.

10 likes

Category: Management tip

1 response so far ↓

  • 1 Bruce H // Sep 5, 2017 at 7:42 AM

    Did the ATO allow an adjustment and refund?

    0 likes

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