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Latest Accounting News
Hot Issues
State and Federal COVID-19 support
ATO extends COVID-19 relief for SMSFs
Treasury consults on increase to charities financial reporting threshold
Greenhouse gas emission by country since 1880
ATO announces STP Phase 2 blanket deferral
Reminder: super changes for the 2021 financial year
Recontributions of COVID-19 early released super
Working from home during a COVID-19 lockdown: Can you claim a tax deduction for rent?
Lockdowns and mental health
Unemployment rate falls to 12-year low
ATO issues warning to first-time investors
World's largest armies 1816 - 2020
Extra 'super' step when hiring new employees
Pitfalls and proposed changes in the use of R&D tax incentives
Government expands SME loan scheme eligibility
COVID-19 disaster payments to be tax-free: Prime Minister Scott Morrison
‘Nowhere to hide’: New gig economy reporting regime set to debut
Hardship priority processing of tax returns
ATO Small Business Newsroom - July / August
Videos and other resources for our clients
‘Mammoth consequences’: ATO’s NALI ruling draws ire from accountants
Superannuation Guarantee Rates Reminder
NSW support measures, plus update for payroll tax.
Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
Articles archive
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Articles
GST & Pricing
GST on Credit Card Surcharge
Shareholder Loans
ASIC Changes ? Update
Family Law ? Superannuation Changes
Companies with Unpaid Tax Debts
No Business? No Deduction!!
ABN Information Available Online
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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