GST compliance costs through receipt keeping
This is a nationwide issue
Affecting:
Add up the time it takes to keep, file, and account for a paper GST receipt for every business expenditure item over $50 (eg a tank of petrol). Multiply it by all the business expenses for all the businesses and I think you have a productivity opportunity (aka a big compliance cost). Many items are paid for through eftpos or credit cards. Can someone find a way to streamline this process so GST details of retailer and item automagicallly record? (oh and save trees).
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