The accuracy of the content is not guaranteed. Please rely only on the authorised document. Chris Jordan, Chair of the New Tax System Advisory Board, announced an extension on the use of the GST Start-Up Assistance certificates today. Eligible certificate holders will now have until 31 October 2000 to redeem their $200 certificate for GST-related plant and equipment. "This is a boost for small business and community groups and reflects the Government’s commitment in smoothing the transition to the New Tax System," Mr Jordan said. The $200 certificate is part of the Direct Assistance package from the GST Start-Up Assistance Office. Eligible small and medium businesses and community groups were issued with a certificate if registered for the GST before 31 May 2000. "Small businesses are reminded they can still use their certificates to purchase professional advice or training until 31 October. "Also remember, the certificate is worth more than the $200 face value. It’s up to small businesses to shop around and maximise the benefits of discounts offered by most registered suppliers. A list of registered suppliers in your area, products and discounts is available at www.gststartup.gov.au or by calling GST Assist 13 30 88. Discounts average around 15 per cent," Mr Jordan said. "Preparing your business or organisation for The New Tax System doesn’t have to be an expensive exercise. Seek information to make an informed decision about your business needs. "If you have already set up your business systems and are ready for 1 July, you can use your certificate to purchase professional advice or training to help you fill out your first Business Activity Statement," Mr Jordan said. "If you haven’t already, you need to set up practices and processes with which you’re comfortable and can operate smoothly, without fuss. The idea is to purchase products that you need and which suit your business practices. Mr Jordan reminded small business owners, "It’s your choice. You decide how you want to use your certificate. You may want to upgrade your computer system or purchase a new one, or receive training or professional advice." Mr Jordan said. The extension on the use of the certificates follows the Treasurer’s announcement on 23 May 2000 to extend full tax deductibility in the 30 June 2000 year for GST-related plant and equipment, provided the equipment is ordered by 30 June and installed by 30 June 2001.
|
