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Alert!It is critical that clients take immediate action if they are entering into any transaction that may span the introduction of the GST. Any transaction that extends beyond 1st July 2000 may have a significant impact as special complex transitional rules apply. Please contact us for advice. Further, cleints that need to register for GST should do so as soon as registration facilities become available. Sales Tax credits on retail stock held at 30th June 2000 will not be available unless registered by then. In addition you cannot claim GST credits until registered. Personal Income Tax Rates will drop from 1.7.2000 - click here for details Clients should be aware that motor vehicle prices may fall post-GST. Sales Tax on vehicles will be abolished and will be replaced by a 10% GST. Luxury Cars will attract a Luxury Car Tax. Although input tax credits are usually available for purchase of vehicles used int he carrying on of an enterprise, special transitional rules exist to deny full credits in the early period post-GST.
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Send mail to webmaster@chotais.com.au with questions or comments about this web site.
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