Fehlerhafte GST‑Erfassung auf Forderungen und verspätete BAS‑Meldungen

Definition

Wholesale jewellers in Australia must charge 10 % GST on taxable domestic supplies, record all taxable sales, and periodically lodge BAS reporting GST collected and payable to the ATO.[1] Manual AR aging often drives GST reporting, but timing differences, credit notes and foreign‑currency invoices can cause GST to be over‑ or under‑reported. The ATO can impose Failure to Lodge (FTL) on time penalties and General Interest Charge (GIC) on late‑paid GST, as well as administrative penalties for false or misleading statements, typically calculated as penalty units per 28‑day period of delay and percentages of the tax shortfall. For a medium‑sized wholesaler with, say, AUD 50,000 GST per quarter, a 20 % shortfall plus two months’ delay can easily produce several thousand dollars in penalties and interest. Given quarterly BAS obligations, recurring AR–GST mismatches or late lodgements can cost AUD 1,100–5,500+ per year even at moderate error rates. Linking AR systems directly to GST codes, automating BAS data extraction and reconciliation to the ledger significantly reduces these exposures.

Why This Matters

The Pitch: Jewellery wholesalers in Australia 🇦🇺 risk AUD 1,100–5,500+ in ATO penalties per BAS period plus 10 %+ interest for misreported GST on receivables. Automation of AR–GST reconciliation and BAS preparation removes these avoidable costs.

Affected Stakeholders

CFO, Finance Manager, Tax Accountant, Bookkeeper

Related Business Risks