Since late 2002, The Australian Tax Office has been signaling a major shift in focus from GST implementation to GST compliance. This has been the theme of many ATO media releases.
At the same time, the number of ATO field officers has been dramatically increased. And the most strident warning of all from the ATO has been the forecast that one-in-ten businesses will be subjected to some form of GST-related audit across the next financial year.
Despite such clear warnings, many organisations remain unaware that they may well be caught up in the Tax Office GST compliance sweep, and they would be astounded to learn how costly, disruptive and complex an audit can be.
But the impending storm hasn¿t gone unnoticed. Leading publisher of GST information for accountants, CCH Australia, has been monitoring the situation and has advised many of its clients to prepare for the new GST compliance regime.
According to CCH Publishing Director, Firgal Adams, ¿we¿ve been inundated with questions and enquiries from business advisers seeking help with their clients¿ enquiries and preparation.¿
¿Since late 1998 we¿ve been publishing GST information products but only now are we in a position to respond to the market¿s needs for a substantial GST compliance tool to help with audits.¿
In response to these calls, CCH has produced the GST Compliance and Audit Guide. A 424 page, loose-leaf manual with CD-ROM designed to provide assistance in a practical and authoritative way.
Aimed at business advisers, small business owners, corporate accountants and CFOs, the Guide is a comprehensive summary of everything a business manager needs to know to ensure their GST implementation program meets Tax Office standards. It will also help them to be prepared for a GST audit.
About the Guide
The GST Compliance and Audit Guide covers the following specific areas:
- Identifying audit targets
- Tax Office powers
- Taxpayer rights
- Preparing for a GST audit
- Conducting and managing the audit process
- Audit settlements and penalties
- ATO guidelines
- Relevant legislation
Written by a panel of leading taxation advisers, accountants, and solicitors, the Guide also provides case studies, pro forma checklists, update newsletters and a CD-ROM for quick search-and-find. It sells for $600 (including GST) and can be purchased directly from the publisher on 1300 300 224.
For further information on the Guide please contact:
Penny Martin (product and author related information)
Product Development Executive
Tel 02 9857 1878
Direct Marketing Campaign Manager
Tel 02 9857 1438
About CCH Australia Limited
CCH Australia is a leading provider of information for business professionals, serving legal, tax, business and education markets. CCH Australia is part of the Wolters Kluwer group of companies, one of the world's largest business publishing alliances. The Group employs more than 19,000 people with interests in 26 countries, representing annual sales of more than EUR 3 billion in 1999.
For more information, please visit www.cch.com.au.