Seven Common GST Mistakes
Sybrand van Schalkwyk and Caroline McNeill consider seven common GST errors and how to avoid making them. This training is aimed at intermediate to senior accountants and lawyers who deal with land transactions. We have noted the time stamps below if you wanted to navigate directly to the question that is relevant for your circumstance.
Format
Online
Course
Starting date
Now
Author
Sybrand van Schalkwyk and Caroline McNeil
Video
1h and 15mins
Duration
1h and 15 mins
Price
$50
About the course
This course covers the following seven common GST errors:
1. Completing the ADLS/REINZ sale and purchase of land form incorrectly (3:29);
2. Forgetting to make a change of use adjustment when land is converted from taxable to non-taxable, for example part of a farm is converted to private use (16:29)
3. Tripping over the $60k registration threshold and bringing land and buildings into the GST net when not necessary (28:38)
4. Placing a farm and a bach in the same GST registered entity, and then not realising that the bach is actually also in the GST net (45:03)
5. Getting GST deregistered, not paying back the GST, and then selling thinking GST does not apply (51:39)
6. Claiming GST on costs less than $10k on the GST registration of an already existing business (57:49)
7. Registering for GST when your subdivision does not qualify as a taxable activity (1:05:42).
1. Completing the ADLS/REINZ sale and purchase of land form incorrectly (3:29);
2. Forgetting to make a change of use adjustment when land is converted from taxable to non-taxable, for example part of a farm is converted to private use (16:29)
3. Tripping over the $60k registration threshold and bringing land and buildings into the GST net when not necessary (28:38)
4. Placing a farm and a bach in the same GST registered entity, and then not realising that the bach is actually also in the GST net (45:03)
5. Getting GST deregistered, not paying back the GST, and then selling thinking GST does not apply (51:39)
6. Claiming GST on costs less than $10k on the GST registration of an already existing business (57:49)
7. Registering for GST when your subdivision does not qualify as a taxable activity (1:05:42).
Sybrand van Schalkwyk and Caroline McNeill
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