- The ATO released its 2025-26 GST strategy for the financial services and insurance sectors.
- It uses a “justified trust” approach to assess GST compliance, risk management, and governance.
- The ATO will focus on discrepancies between accounting and GST results and use tailored GST data testing rather than traditional GAT reconciliations.
- Businesses in these sectors are advised to conduct their own GST analytics and maintain strong governance to ensure correct reporting.
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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