Common GST Problem Areas - Part 1 – GST Basics 2025

Explore common issues in the GST world relating to partnerships, JVs, property transactions, and the sale of going concerns.

In this unit, we cover:

• Recap of Basic GST Rules and Concepts

• Partnerships & Joint Ventures

• Benefits of having no GST!

• Capital Supplies and GST Registration

• GST and Property

  • Types of real property

  • GST Withholding Regime on sales and long-term leases

  • Margin Scheme

• GST-Free Going Concern - Sale of business

• GST-Free Farm Land – Farming business

• Types of supplies

• Financial Supplies

  • What are financial supplies?

  • Incidental financial supplies

  • Financial acquisitions threshold (FAT)

  • Reduced input tax credits (RITCs)

• Apportionment and adjustments

  • Adjustments

    • Adjustment events

    • Adjustment periods – Division 129 and 138

  • Bad/Doubtful debts

  • Correcting GST mistakes

    • Amended assessments

Date recorded: 11 & 18 September 2025