The ATO has several audit programs in place which focus on:

• detecting and dealing with taxpayers who deliberately avoid their GST obligations
• enhancing support and education to encourage taxpayers to willingly meet their GST obligations

The ATO is continuing to expand these programs to identify non-lodgers and detect taxpayers who over-claim entitlements, deliberately under-report or omit income, and use cash transactions to hide income and evade tax obligations.

The lodgement enforcement programs conducted by the ATO focus on ways of identifying those who fail to lodge their activity statements by:

• comparing lodgement and income history with data from external sources
• matching asset transactions held by state revenue offices and land titles offices to identify and engage developers who sell property but fail to lodge their activity statements
• reviewing taxpayers activity statements and checking that they are lodging accurately, correctly, and on time
• taking firm action to resolve outstanding lodgements; which may include raising default assessments, imposing penalties or prosecution

Entities with annual turnover exceeding $75,000 are required to:

• become GST registered with the Australian Taxation Office
• determine what goods and services they supply will be subject to GST
• charge GST on goods and services they supply
• claim input credits for GST they pay on acquisitions
• lodge GST returns (BASs) with the Australian Taxation Office
• calculate and pay their GST

Under the GST legislation, businesses with an annual turnover below $75,000 are not required to be GST registered, but may choose to become GST registered. If you choose not to register, you cannot charge GST on your supplies, and you cannot claim input tax credits on your acquisitions.

With business owners facing onerous pressures of running a small business, it is all too easy to fall behind in meeting their tax obligations.

If you:

• have fallen behind
• have the ATO chasing outstanding BAS’s
• have the need to get your records up to date
• wish to avoid the build-up of penalties and interest
• just want someone to assist and guide you through the complexities

Contact our office let us take the worry from you. We will assess your situation, bring you up to date and give you peace of mind.