The Australian Bookkeepers Network (ABN) recently advised members that the ATO has increased its focus on GST compliance and BAS. The expectation is that tax agents can expect a surge in audits.

Director of the ABN, Peter Thorp, highlighted the essential role of Bookkeepers in the audit process and gave some tips on how Bookkeepers can prepare themselves for GST audits. Strategies suggested by the ABN include:

• Continuous learning – keeping updated with the latest GST regulations and audit processes, which is critical in a fast-evolving tax landscape
• Leveraging technology: Using specialised accounting software and tools, custom-built for GST compliance, can automate and streamline parts of the bookkeeping process. This helps to support accurate and timely submissions and reduces the risk of audits. The use of AI tools such as Dext Prepare and XBert were specifically recommended by the ABN.

Purpose is pleased to support clients to employ both strategies mentioned above. The process that requires the most attention across non-profits, both in terms of interfacing technology and maintaining an accountable organisational culture, is the collection of card-based expenditure receipts. Over the last few years, we have worked with many clients to implement the Dext Prepare system, streamlining and automating the accounts payable process.

With multiple BAS Agents on our team, we’re also keeping our GST knowledge up to date through continuous learning and very close working relationships with numerous auditors who specialise in the NFP sector.