Friday 21 December 2012

Small Businesses Should NOT Be Unpaid Tax Collectors.

Research By the University of NSW shows that the cost of collecting GST for Australian small businesses is significantly higher than for our overseas counterparts.

GST collection makes up 58% of our total internal compliance costs compared with 40% for South African, British and Canadian small businesses.
On average it costs Australian small businesses $11,950 per year just to collect GST. Where do I send my invoice?