29 Common GST Mistakes

GST Mistakes

Even though the Goods and Services Tax (GST) has been in operation for more than 10 years, despite its best efforts to educate the general public, the Australian Taxation Office (ATO) is still receiving business activity statements (BAS) containing many errors. Most of these errors relate to the over-claiming of GST input tax credits (ITCs) but in general, can be attributed to a misinterpretation (or lack of knowledge) of GST legislation.

Below is a list of some of the most common errors business owners make when preparing the BAS.

Like it? Share it!