In a nutshell, the ATO are focusing on 6 key GST risk areas in 2024. We will unpack each GST compliance risk area one by one.
GST Compliance Focus Area 6: Incorrect Reporting
This risk area is all about the strength of a taxpayer’s GST governance and control framework to identify, remediate and proactively mitigate future instances of GST reporting errors.
Some points to note:
⦾ The ATO recently revised its position on GST corrections, so will be monitoring adherence to this going forward.
⦾ If you’re undergoing a GST Assurance Review or preparing for one, BTG International can help identify and remediate any GST misstatements lurking within your indirect tax reporting lifecycle.
Contact us today!