GST collection unreasonable

Article Abstract:

Some parts of the GST(Goods and Services Tax) law of Australian Taxation Office(ATO) failed to keep pace with business and economic change. A minimum threshold was established, and businesses with an annual turnover below that figure were not required to register for GST. Businesses just below that threshold are required to self-monitor their revenue and opt in if they believe they are going to cross the $50,000 threshold during a given financial year. Raising the threshold could benefit the Federal Government.

Tax Law, Public Finance Activities, Interpretation and construction, Australia. Australian Taxation Office

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Standard surprises

Article Abstract:

Many big Australian companies are facing the effects of new international financial reporting standards (IFRS) which will come into effect from this fiscal year. The complete overview on the IFRS is presented and the problems that companies are facing with these new accounting rules are discussed.

Product standards, safety, & recalls, Standards, Accounting, Accounting law

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The high cost of compliance

Article Abstract:

The need for local governments to manage regulatory compliance expenses, in Australia, is discussed.

Management dynamics, Public Administration, State & Local Government, Local Government, Regulatory Costs & Benefits, Management, Company business management, Regulatory compliance costs, Legislation

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