The ATO has given us and our clients a few years to 'get used to' GST. Now comes the crunch time to check we did it correctly! The ATO has moved from education to audit.
Do you know what to expect from a GST Audit? How will the ATO approach the audit? What the most common mistakes are, and what issues are being targeted by the ATO
This session was particularly concerned with GST audits on small and medium size businesses.
Topics covered include:
- compliance framework - compliance Model
- the GST compliance program and verification activities
- top 10 issues - common mistakes/areas of concern
- margin scheme
- going concern
- common misconceptions of how GST works
- preparing for an audit
- access provisions
- audits in practice
- penalties
- practical examples.