{"id":743,"date":"2021-10-13T06:14:22","date_gmt":"2021-10-13T06:14:22","guid":{"rendered":"https:\/\/www.firstclassaccounts.com\/middle-park\/?p=743"},"modified":"2021-10-13T06:14:23","modified_gmt":"2021-10-13T06:14:23","slug":"know-your-obligations","status":"publish","type":"post","link":"https:\/\/www.firstclassaccounts.com\/middle-park\/2021\/10\/13\/know-your-obligations\/","title":{"rendered":"Know your obligations"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Businesses have several obligations relating to GST
\ud83d\udcb0 Register for GST – mandatory if the business meets turnover threashold.
\ud83d\udcb0 Produce tax invoices containing required information. Ensure payments are made on receipt of tax invoices
\ud83d\udcb0 Charge GST on taxable items. Be familiar with goods or services that are GST free or input taxed.
\ud83d\udcb0 Correctly report GST periodically as required
\ud83d\udcb0 Claim only the correct GST amount
\ud83d\udcb0 Pay correct GST amount to the ATO.<\/p>\n\n\n\n

Although this sounds super simple, there is a lot of detail that goes with each obligation. If you are unsure of your obligations, it is best to learn the rules and requirements or get help.<\/p>\n\n\n\n

Incorrectly transacting, reporting and paying GST can cost your business financially as well as damage reputation.<\/p>\n\n\n\n

If you like to know the rules and processes relating to GST contact us on 07 3279 0886<\/p>\n","protected":false},"excerpt":{"rendered":"

Businesses have several obligations relating to GST\ud83d\udcb0 Register for GST – mandatory if the business meets turnover threashold.\ud83d\udcb0 Produce tax…<\/p>\n","protected":false},"author":85,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[1],"tags":[],"acf":[],"yoast_head":"\nKnow your obligations - Our Bookkeeping Services - First Class Accounts Middle Park<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.firstclassaccounts.com\/middle-park\/2021\/10\/13\/know-your-obligations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Know your obligations - Our Bookkeeping Services - First Class Accounts Middle Park\" \/>\n<meta property=\"og:description\" content=\"Businesses have several obligations relating to GST\ud83d\udcb0 Register for GST – mandatory if the business meets turnover threashold.\ud83d\udcb0 Produce tax...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.firstclassaccounts.com\/middle-park\/2021\/10\/13\/know-your-obligations\/\" \/>\n<meta property=\"og:site_name\" content=\"Our Bookkeeping Services - 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