GST Non-Compliance Fines
Definition
Hardware procurement involves mixed supplies (taxable hardware vs potential exempt services), requiring precise GST calculation. Poor inventory management causes errors in BAS lodgements.
Key Findings
- Financial Impact: AUD 222 minimum fine per late BAS + 5% p.a. GIC; up to AUD 26,640 for repeat offences
- Frequency: Quarterly/monthly for businesses over AUD 20k turnover
- Root Cause: Manual procurement records fail to capture GST on hardware purchases accurately
Why This Matters
The Pitch: IT System Installation firms in Australia 🇦🇺 face AUD 222+ fines per late BAS plus interest. Automation of procurement-to-invoice tracking eliminates this risk.
Affected Stakeholders
Procurement Manager, Accountant, IT Director
Deep Analysis (Premium)
Financial Impact
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Current Workarounds
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Methodology & Sources
Data collected via OSINT from regulatory filings, industry audits, and verified case studies.
Related Business Risks
Superannuation Guarantee Shortfalls
Inventory Shrinkage Losses
Payroll Tax Threshold Breaches
E-Waste Disposal Non-Compliance
ATO Audit Failures from Poor Asset Documentation
Manual Inventory Reconciliation Delays
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