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Did You Know

GST - The end of the going concern exemption.

 

Presently if you buy a business or an occupied commercial property, and both the vendor and purchaser agreed and were both registered, there would be no GST payable. This not only had  the cashflow advantage but also there was no (state) stamp duty levied on the GST. 

 

 

   

Happy New Year! Just letting you know that TBM Accountants office will be closed both on Australia Day Thursday 26 January 2012 and Friday 27 January 2012. Feedback is that many people are choosing to have that Friday off but if something urgent pops up that you need to speak with us about, send an email to karenk@tbmaccountants.com.au and Karen will arrange to get back to you as soon as possible. Otherwise we will be at work Monday 30 January 2012.

Also, for those with quarterly BAS, they are due for lodgement and payment by 28 February 2012, so we would like your information as soon as possible so we can prepare everyone’s by the deadline. Last quarter too many clients left getting their information to us until the last minute and we could not meet the deadline on some. We can only guarantee to meet the deadline when information is provided to us at least two weeks prior to the deadline as we prepare and lodge around 200 BAS per quarter and can’t prepare them all at the same time.

Enjoy Australia Day and your weekend.

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