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Tristan Boyd
  • Total posts: 55
kathiemt, post: 10102 wrote:
I think everyone should advertise their product or service GST inclusive.

I disagree with this. If you are making profit with yor business, any GST you pay during the year will be returned (or taken off the GST that you need to pay to governemnt in your BAS return.) Just about any expense in a business gets the GST back.

In relation to the problem at hand…

Why don’t you tell the seller that you will let the ATO know about the problem, and ask them what they think about whether you need to pay GST or not, and whether you can treat the business as an ongoing concern given that the current owner has been dodging tax.

I’m sure they will be very happy to sort it out.