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What is the Board of taxation doing to improve tax system?

What do you need to know about a tax invoice?

  • Tax invoices. When you make a taxable sale of more than $82.50 (including GST), your GST-registered customers need a tax invoice to claim a credit for the GST in the purchase price. If a customer asks you for a tax invoice you must provide one within 28 days of their request. Tax invoices must include at least seven pieces of information.

What tax information do I need to report to HMRC?

  • Reporting Once you’re up and running, you'll need to report your business income and other tax information. The key reports you should be aware of are: Business Activity Statement (BAS) the main taxes you will report on will be GST (if you’re registered for GST) any tax you withhold from employees’ pay.

What is the role of the Inspector-General of taxation?

  • The Inspector-General of Taxation is an independent statutory office established to review system tax administration issues and recommend to Government improvements to tax administration for the benefit of taxpayers. The overall aim is to identify how to reduce the administrative burden for taxpayers in meeting their tax obligations.

image-What is the Board of taxation doing to improve tax system?
image-What is the Board of taxation doing to improve tax system?
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