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The ATO has noticed some common errors made in activity statements since the introduction of ‘GST at settlement’ on 1 July 2018. These new laws require purchasers to withhold GST on settlement (and pay it to the ATO directly) generally when buying ‘new residential premises’ from developers. In particular, the new ‘GST at settlement’ law does […]

The Mid-Year Economic and Fiscal Outlook (‘MYEFO’) report was recently released. It indicates that the underlying Budget deficit is expected to be $5.2 billion in 2019 (down from the $14.5 billion deficit estimated in the 2018/19 Federal Budget). The substantial deficit reduction is reportedly a result of increased tax collections, with individual tax collections up […]

Due to recent changes to tax laws in Australia, Facebook ads purchases in Australia will be subject to a goods and services tax (GST) of 10% beginning August 1, 2018. This change will affect all ad accounts that have their business country set to Australia. However, if your business is registered for GST, you can […]

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