GST Error.

Everyone knows that Australian businesses with an annual turnover of more than $75,000 must be registered for GST but so many small business owners make simple errors when reporting their GST, and in many cases are paying too much to the tax office. 
Charging an extra 10 per cent on top of services sounds straightforward; or is it?
Equally common are mistakes that involve claiming credits. The ATO takes a dim view of credits being claimed for assets that are partly used for private purposes. Credits can only be claimed for the portion of the assets or services that relate to business. 
This is a topic easily understood by accountants but do you have clients who still get confused? Business owners have so much to do and one unintended error could make a huge difference to their cash flow – and even to the survival of their business.
This educational video Making GST Easy is a great tool to teach your clients the right way to manage and report their GST.