Business Services Industry
GST bill to hit car repairs.
Australasian Business Intelligence, April, 2006
Byline: Elizabeth Colman
Apr 19, 2006 (The Australian - ABIX via COMTEX) -- Australia's goods and services tax (GST) is complex. The Australian Taxation Office (ATO) has made a retrospective change to the administration of the GST. On 19 April 2006, the ATO announced that Australian distributors of overseas goods, such as cars, must now remit to the ATO 10 GST on invoices charged to foreign manufacturers. Car dealers face a GST bill that will increase the cost of making repairs under warranty. The ATO is seeking four years' worth of unpaid GST from such groups. Expensive, repairable goods from overseas will cost more to fix under this ruling.
Publication Date: 20 April 2006
AUSTRALIAN TAXATION OFFICE
KPMG AUSTRALIA PTY LTD...
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