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What is a General Interest Charge?

A General Interest Charge (GIC) is a demand for unpaid tax debts from the Australian Tax Office (ATO). You can receive a GIC for several reasons, including late payment or non-payment of taxes. Receiving a GIC can be shocking and you most likely have a lot of questions about what is about to happen.

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GIC, GST, Charge, Unpaid, PAYE,
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Changes to GST Exemption

Starting from the 1st July 2018, the changes to GST exemption mean that all online goods bought from overseas will now carry a 10% goods and services tax. The previous rules meant that all goods worth less than $1,000 were exempt from the GST, but that is no longer the case. Goods becoming more expensive…

Accounting, ATO, GST, Tax Advice, Tax Compliance, Tax Deductions, Tax Refund,

Tax compliance, tax advice, Accounting, ATO, Australian Tax Office, business accounting, Goods and Services Tax, GST, tax refund,