Almost 20 years since the introduction of the Goods and
Services Tax Act, tax practitioners and businesses wonder why GST issues still
seem to arise so frequently.
Services Tax Act, tax practitioners and businesses wonder why GST issues still
seem to arise so frequently.
We spoke with
Ken Fehily, CTA, (Fehily Advisory
)
ahead of his presentation at the VIC
7th Annual Tax Forum on Unexpected GST Issues that GST
Specialists Come Across.
ahead of his presentation at the VIC
7th Annual Tax Forum on Unexpected GST Issues that GST
Specialists Come Across.
At the VIC 7th Annual Tax Forum, Ken will take delegates
through the real advisory assignments he’s worked on, large and small, in
recent times.
through the real advisory assignments he’s worked on, large and small, in
recent times.
“Businesses, and even some tax practitioners who are not GST
specialists, often wonder how someone could still be advising on GST 19 years
since its introduction - isn’t it simply 10%?” Ken explains.
specialists, often wonder how someone could still be advising on GST 19 years
since its introduction - isn’t it simply 10%?” Ken explains.
“The issues that crome up are often unexpected, surprisingly
material, and often totally avoidable.”
material, and often totally avoidable.”
Using his firsthand experience, he will explain how to best
handle interventions from the ATO.
handle interventions from the ATO.
Delegates will also hear
about “options in the GST law, and how to best make choices to achieve the
optimum commercial outcomes. I”ll also be covering some common mistakes made by clients, their tax
advisors and other advisors” Ken continues.
about “options in the GST law, and how to best make choices to achieve the
optimum commercial outcomes. I”ll also be covering some common mistakes made by clients, their tax
advisors and other advisors” Ken continues.
As for the blind
spots?
spots?
“Thinking GST is a
simple and unimportant tax of merely 10% that has no real consequences” he
says.
simple and unimportant tax of merely 10% that has no real consequences” he
says.
“That would be like
saying income tax is even simpler- just add up your revenue, deduct your
expense, come up with your net income and applying the applicable rate” he
continues.
saying income tax is even simpler- just add up your revenue, deduct your
expense, come up with your net income and applying the applicable rate” he
continues.
Ken is a GST expert
with over 30 years’ experience in resolving difficult, uncertain and complex
indirect tax issues. After 20 years as a senior partner at both PwC and
Andersen, he founded independent consultancy Fehily Advisory Pty Ltd in 2010,
to dedicate himself to achieving prompt and definitive outcomes for clients and
advisers facing GST issues or disputes with the ATO.
with over 30 years’ experience in resolving difficult, uncertain and complex
indirect tax issues. After 20 years as a senior partner at both PwC and
Andersen, he founded independent consultancy Fehily Advisory Pty Ltd in 2010,
to dedicate himself to achieving prompt and definitive outcomes for clients and
advisers facing GST issues or disputes with the ATO.
Colloquially known
as “Mr. GST”, Ken contributed to the writing of the GST legislation and
currently a member of the ATP’s GST Stewardship Group. A member of The Tax
Institute since 1994, he has previously sat on the Victorian State Council,
Education and other committees and is a regular contributor to forums, seminars
and The Tax Institute journal.
as “Mr. GST”, Ken contributed to the writing of the GST legislation and
currently a member of the ATP’s GST Stewardship Group. A member of The Tax
Institute since 1994, he has previously sat on the Victorian State Council,
Education and other committees and is a regular contributor to forums, seminars
and The Tax Institute journal.
Outside of tax, Ken enjoys the visual arts and musical
theatre.
theatre.
He promises a s theatrical presentation on GST issues at the
VIC
7th Annual Tax Forum – the pre-eminent conference for Victorian
tax professionals.
VIC
7th Annual Tax Forum – the pre-eminent conference for Victorian
tax professionals.
Join us in Melbourne. 17-18 October.
