AUSTRALIA: Simplified accounting for small food retailers, says government
Food retailers with annual earnings under A$2m will be able to use a simplified tax-accounting method and save time and paperwork, according to an announcement made yesterday by the Australian Government. The concessionary move has been introduced to alleviate the administration difficulties many businesses are facing with the recent implementation of the goods and services tax (GST). Rather than recording every single item and its tax status, such businesses may now use a "snapshot" method; calculating the GST-free percentage of sales by looking at a short sample period.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Interview: Sir Kensington's on sale to Unilever
- Interview: "Disruptive" snack brand Hippeas
- Analysis: Post discusses rationale for Weetabix
- Who will buy Danone's Stonyfield business?
- Column: Why snacking is the new meal
- Unilever buys US condiments maker Sir Kensington's
- Tyson shops Sara Lee bakery, Kettle and Van's
- Icelandic to sell Saucy Fish Co. owner Seachill
- Tyson to buy burger-to-entree firm AdvancePierre
- Dairy dampens Danone in Q1