Goods & Services Tax Advice - CapitalQ

Goods & Services Tax Advice

GST impacts every business in Australia.

And it passes substantial administrative obligations on to the business owner (frankly the system is a form of outsourcing of the Tax Man’s work).

Staying on top of our GST obligations is paramount. All too often we see businesses fall behind and once they do, the problem can really start to run away from them (remember in virtually all businesses, every single dollar that comes into the business includes a little over 9 cents that aren’t really yours. This very quickly adds up).

There are of course complications with the GST system. Most will know that while GST applies to the majority of transactions, it doesn’t actually apply to every transaction.

These exemptions are actually the systems biggest flaw. As a tax collection mechanism, GST or other similar value-added taxes are amongst the most efficient, and the most difficult to avoid (especially given the move away from cash).

But when the Liberal Party were forced to make exceptions and exclusions in order to get their new tax into law, those lobbyists didn’t really appreciate the extra burden it placed on those responsible for the collection of GST, the business owners!

Property transactions are amongst the most complex. And given the amounts of money involved, are where the biggest risks and biggest errors occur (and when things go wrong with GST, they really go wrong).

International transactions also come with their significant GST issues.

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What our customers say

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2017 was a bumperyear, that meant a big tax bill, or it would have if it wasn’t for CapitalQ

After a former business partnership fell apart, we needed help to restart and rebuild. That’s when we met Kapil, Duncan and the CapitalQ Team. They helped us get two new businesses off the ground and they have helped us achieve efficiencies and profitability in a very short time frame. In fact 2017 exceeded our expectations and while that meant we could buy our first super car (a Lamborghini Gallardo) that also meant we would be looking at a substantial tax bill. But Kapil and the Team went all out to come up with plans to help minimise our tax bill for the year and allow us to keep investing in our businesses (and our toys) ;) Based on our past dealings with other Accountants, we never knew the difference a good Accountant could make. We couldn’t have done it without them and we can’t recommend the Team at CapitalQ highly enough!
Ryan Shreeve & Tara Thomas Ryan Shreeve & Tara Thomas

Ryan Shreeve & Tara Thomas

Founder and Director VRN Cleaning & Founder and Director Eeve Security Services

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