ATO Releases Updated Guide for GST Analytical Tool for Top 1000 Taxpayers

• The GST analytical tool guide is available on the ATO Legal database.
• It assists taxpayers in completing the GAT reconciliation process.
• Small modifications clarify applicability and methodology.
• Required for taxpayers in the Top 100 or Top 1000 program, except predominantly input-taxed businesses.
• Part of the justified trust methodology for GST.
• Core requirement for periods under ATO review.
• Aims to understand and verify differences between accounting and GST figures.
• The guide helps taxpayers use the GST analytical tool.
• The annual GST return includes questions about the reconciliation process and outcomes.

Source: pwc.com.au

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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