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Latest Accounting News
Hot Issues
Bushfires 2019–20 (ATO)
Accounting profession responds to bushfire crisis
Helping your business survive a natural disaster - ATO
Single Touch Payroll (STP) – now ensure super is paid on time.
Beware of Australian Taxation Office (ATO) impersonation scams
Australia by the Numbers
‘Visible, valued and owned’: ATO outlines super priorities for new year
Introductory Rates & Interest Free Periods
Our Advent calendar for 2019
Tax Office sounds warning on 8 types of super schemes
Don’t forget sharing economy income
Impress your friends with your knowledge!!
Salary sacrificing and the superannuation guarantee
Why so much super “stuff” this year?
Reverse Mortgage?
How the gig economy could create hidden tax issues for contractors and employers
15,000 tip-offs as ATO black economy hotline rings hot
What happens when interest rates hit the floor?
Director Penalty Notices (DPN)
Synchronised global economic slowdown
STP to be increasingly monitored
6 new accounting related videos
GDP by country since 1800
Information needed to be the BBQ expert.
Employee or independent contractor: What happens when it goes wrong?
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Articles
GST & Pricing
GST on Credit Card Surcharge
Shareholder Loans
ASIC Changes ? Update
ABN Information Available Online
Family Law ? Superannuation Changes
Companies with Unpaid Tax Debts
No Business? No Deduction!!
Most Common Rental Property Deductions
ASIC Changes ? Update
No Depreciation for Rental Property Items
Late Lodgement Or Late Payment
Travel Expenses to Attend Company Annual General Meeting
Tax Invoice Requirements:-
GST Errors on Business Activity Statement Returns
GST Exemption ? Going Concern
Old Shareholder Loans
GST & Pricing
The Federal Court has recently held that the failure to show a GST-inclusive price for goods and services could, in some circumstances, be considered misleading or deceptive and, as a result, contravenes the Trade Practices Act 1974.

Where GST is applicable to the provision of goods and services, the full price inclusive of GST, or the exclusive price together with the GST payable, should be shown.

Where GST exclusive prices are used, substantial prominence should be given to alerting purchasers that the prices do not include GST.
This is probably important in quoting eg it would be necessary to quote $100 plus $10 GST.

It could be expensive for you if the customer only pays the quoted price, yet you have to pay one-eleventh to the Australian Taxation Office.  Beware ? this possibility is quite real if your quoting procedure is flawed.

Your customer claims the GST and you are out of pocket.



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