GST Advice

 
 
 
At Gary Wilkins & Associates, our specialist team have the expertise needed to help you grow your business and keep accurate records so your reporting is also accurate. We can guide you through the process of how to claim GST for your business, we work with all types of businesses including partnerships and sole traders, regardless of size.

We’ll also provide the right advice to ensure you are reporting and claiming the GST component of sales and purchases correctly. Making a mistake in your GST reporting can be very costly. We can handle the tax aspects of your company so you can focus on the growth, your customers and the daily operations.
 
We have a variety of services we offer regarding GST, we can take care of:
 
 
  • BAS preparation and statements - we can review your financials from records kept
  • Record reviews – we ensure your data is entered correctly so your records are accurate
  • Bank statement reviews – we can ensure your bank statements are accurate
  • BAS statements reviews – audit statements for correct reporting
 
 
 
  • Superannuation evaluations – do a quick analysis of superannuations to ensure compliance with obligations
  • GST claims on equipment – ensure you are claiming accurately
  • GST planning – we can put together plans and projections
 
 
 
 
Make sure you have a professional team by your side. Contact the team at Gary Wilkins & Associates today!
 
 
 
 

Goods and Services Tax

 
GST is a broad-based tax on most goods, services and other items sold in Australia. It is set at 10%. Businesses collect the tax every time a product or service is sold. Then, the revenue is sent to the Australian Tax Office.
 
While for most products and services GST must be charged, there are some exemptions, these include:
 
 
  • Basic foods
  • Medical care products
 
 
 
  • Health care products
  • Some education courses
 
 
 
 
Not everything in those categories is exempt, so it’s wise to check with your tax professional if you are not sure. Exports from Australia are generally exempt from GST.
 
 
 
Goods & Services Tax — Accounting Service in Woree, QLD
 
 
 
 

GST Registration

 
How do you know if you need to register your business for GST? Some guidelines currently exist, you must register if:
 
 
  • Business income is $75k or more annually
  • Non-profit income is $150k or more annually
 
 
 
  • You provide a taxi service
  • You claim fuel tax credits
 
 
 
 
If your business doesn’t fit these categories, GST registration is not compulsory but you can choose to do so. Once you are registered for GST, remember to claim all GST paid on goods and services you purchase for the business and make sure you keep the tax invoices from your suppliers.
 
 
 

GST Help

 
It’s possible for you to navigate the GST registration process alone but it can be a confusing and time consuming. We have many years of experience helping businesses through the application process for GST registration. The professionals at Gary Wilkins & Associates can handle all your GST requirements, from determining what you owe to claiming what is owed to you and analysing your business data to formulate projections.

Confidentiality and security are key in all our dealings with our clients. During our first consultation we determine what your growth goals are for the business so that when we work with you, we can personalise all our services and advice to those goals.

Get in touch with us today to arrange a consultation.