- Rebecca Saint and Virginia Gogan delivered a speech at The Tax Institute’s National GST Conference
- They discussed the importance of GST compliance for public and multinational businesses
- Large businesses are significant contributors to the GST system, with over 60% of net GST liabilities coming from them
- The ATO has been focusing on improving assurance and compliance in the large market
- They have taken on long-term systemic issues such as governance, apportionment issues, and product classification
- The future of GST compliance for large businesses is being envisioned beyond the current state
- The top 100 and top 1000 taxpayers make up a significant portion of net GST liabilities collected by the ATO
- Large businesses play a crucial role in revenue collection for the government, particularly in the GST system
- The concentration of GST collection differs from income tax, with a more spread out distribution among large businesses in various sectors.
Source: ato.gov.au
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
