The ATO has released GSTR 2018/1 dealing with supplies of real property connected with Australia. While the ATO view does not appear to have changed, the ruling is a useful reminder of the need to consider relevant definitions, the characterisation of the supply and the specific facts of transactions.
Question Is there a requirement for staff to provide receipts for purchases made by credit card for GST inclusive purchases under $82.50? Is it possible to differentiate between ATO requirements and Audit requirements?
This article outlines the recent controversy in which use of the cash basis by non-business entities and small business entities have moved out of virtual alignment. It notes some practical implications of this.
There are specific GST implications for transactions involving agency. As is so often the case, to determine the GST treatment we first need to understand the specific facts and circumstances of the transaction entered into between the parties. This then also determines how the transaction needs to be accounted for accurately.