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GST

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Cash vs. Accruals Accounting on BAS

person Carmen Morris
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We’ve noticed that business owners sometimes get confused when their BAS amount payable is considerably higher or lower than what they are expecting. Usually this happens when they report GST on a cash rather than an accruals, (or non-cash), basis. For most business, a BAS is largely for GST, PAYG withholdings (employee taxes withheld) and…

GST Basics for Small Business

person Carmen Morris
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One of the basic principles of GST is that it is paid by the end consumer. A business that is registered for GST is not the end consumer. This means that if you’re a business and you’re registered for GST and you see a price of $100 + GST quoted, although you may physically pay…
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