Let's talk GST

Practical business tipsBookkeeping and tax matters
Written By Zoe Scott

EPISODE 11

 

Notes

I’m so excited to discuss my absolute favourite bookkeeping topic - GST. 

It’s absolutely essential that you grasp the ins and outs of GST to ensure you pay the right amount to the Australian Tax Office. But, from experience, I’ve found many businesses don’t understand it fully and end up making mistakes, so I’m on a mission to help educate everyone.

GST, Goods and Services Tax, is a 10% consumption tax on goods and services that has been in operation since its introduction back in 2000. Businesses that are registered for GST need to charge it to their customers and remit it to the ATO. 

I’ll run you through all of the basics for GST, when you need to register for GST, how to register, claiming GST on expenses, submitting tax invoices, how to pay GST, myths, and goods and services that don’t attract GST. 

I’ll finish off with my top 3 tips for GST. These are the most important things to remember when collecting and calculating GST. 

Check out my resources below to find out more or contact me and I’d love to discuss it with you. 


LINKS:

GST Cheat Sheet: https://learn.straightupbookkeeping.com.au/gstcheatsheet

 

About the
Author

Bec is a chartered accountant who worked at Australia’s big firms and banks for 15-years. Faced at a crossroads in her career, she backed herself, left her corporate job and launched Straight Up Bookkeeping. 3 years and 5 staff later, Straight Up Bookkeeping is one of Australia’s leading virtual bookkeeping businesses for creatives, with a mission to free business owners from financial stress so they can grow their empires.

 
 

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