This practical webinar, which incorporates the legislative changes which will be enacted in late March 2023, will help you identify and calculate any GST adjustments which need to be made in GST returns for the period ending 31 March 2023.
Topics covered include how adjustments are calculated, the application of the adjustment rules when assets enter and exit the GST base (on purchase, registration, sale and deregistration), and when the use of an asset changes to total taxable or total non-taxable use.
Changes to the adjustment required on the sale of an asset used for both taxable and non-taxable purposes will be considered, including the application of the adjustment rules on the sale of a farmhouse which has been used in the farmer’s taxable activity, and the proposed new rule which will allow farmers to elect to treat a farmhouse used in their taxable activity as an exempt supply.
Extensive use of worked examples will illustrate the application of the GST rules which apply to goods and services used for both taxable and non-taxable purposes.
21 March 2023
Intermediate to senior accountants, in-house accountants, tax lawyers and others who advise clients on GST issues.
Susan Ballantyne, Senior Associate, Tomlinson Law.
1.5 CPD Hours