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Recorded Webinars

Recorded Webinar: GST Calculation Challenges: Going Beyond the 10% Benchmark

To use an ATO fact sheet’s definition of GST as a “broad-based tax of 10% on most goods, services and other items sold or consumed in Australia”, you wouldn’t think a lot could go wrong with the calculation. However, it seems to be that when the calculation gets away from 10% that
PRESENTED BY Anika Reside Partner - Grant Thornton , Perth

Date/Time

About the Webinar

To use an ATO fact sheet’s definition of GST as a “broad-based tax of 10% on most goods, services and other items sold or consumed in Australia”, you wouldn’t think a lot could go wrong with the calculation. However, it seems to be that when the calculation gets away from 10% that the issues surface. This session explores further, including:

  • How use of the margin scheme is creating issues:
    • with the ATO
    • between vendor and purchaser
    • when historical information is required
  • How to correctly deal with GST withholding at settlement when the margin scheme is used
  • The issues encountered in practice when the use of the 0% rate is coming back to bite when using:
    • the GST-free going concern exemption
    • the GST-free farmland exemption
  • How division 129 and 135 GST adjustments are getting overlooked
  • How the sales of “mixed use” properties are creating GST issues
  • Tips to avoid a purchaser expecting a tax invoice with 10% GST whilst the seller expects no GST or GST less than 10% of consideration
  • How the drafting of contractual terms are impacting on GST issues with property
  • The penalties and dispute remedies applying in practice when GST is going wrong with property transaction

Presented By

Anika Reside
Partner, Grant Thornton Perth, WA

Anika is a member of Grant Thornton's national indirect tax team and specialises in GST and fuel tax.

Anika has extensive experience in advising clients on a broad range of indirect tax matters including:

  • improvements to governance, systems, processes, procedures and controls through GST reviews
  • the imposition and recovery of GST in the real estate and construction, health and aged care, not for profit, education, energy and resources and financial services sectors
  • the GST implications of various merger and acquisition activities, including due diligence reviews
  • the application of GST to domestic, cross border and international transactions.

Anika also has experience in negotiating successful outcomes for her clients with the ATO through the early engagement, private ruling, review and audit processes.

Who Should Attend?

This webinar is suitable for accountants and lawyers advising on GST and property law – Australia wide. This webinar is for practitioners with some knowledge in this area and looking to improve their knowledge.

CPD Information

Accountants can claim up to 1 CPD hour. Lawyers can claim up to 1 CPD unit/point – substantive law. This webinar has been designed to run for 1 hour, however, webinar lengths can vary depending on the level of questions and discussion.

WA lawyers – Please note that TEN is unable to verify your completion of recorded webinars to the Legal Practice Board of WA. TEN is an accredited provider.

While TEN takes all reasonable care to include accurate and up-to-date information regarding CPD category classifications and compliance obligations, information regarding CPD point allocation are provided as a guide only. Allocation of CPD points is subject to the CPD requirements of your jurisdiction, personal circumstances and professional requirements. You are solely responsible for determining whether a particular product is appropriate for your CPD requirements.

Enquiries/Assistance

If you need assistance or have an enquiry, please do not hesitate to contact our Webinar Coordinator, Lisa Tran on (03) 8601 7709 or email: [email protected]

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