Once a business reaches a turnover of $75,000 per annum, the business is required to register for GST and lodge Business Activity Statements with the Australian Taxation Office. Depending on the nature of the business and the turnover thresholds, the business will register to report using either the cash or accruals method.
GST is an important tax consideration in events such as sale of property, development projects, new business structures, mergers and acquisitions and international transitions.
TF Partners can provide assistance in the following areas relating to GST:
- Sale of properties, going concern and margin scheme
- Structuring advice and going concern issues
- GST on imported goods and services including customs charges
- Financial services and input tax credits
- Deferred GST
- GST in health services and medicine retailing
- GST advice for new businesses, acquisitions and sales
- Preparation and lodgement of business activity statements
Why choose TF Partners?
TF Partners is constantly evolving and developing alongside our clients, to provide a holistic range of services including Accounting, Business Advisory, Wealth Management and Finance. With our depth of expertise, we provide our breadth of services to a diverse range of clients across an array of industry sectors.