A Guide for pre-schools has been released to help those in that industry better understand their GST obligations.
The guide covers many of the tax-related issues arising in the industry ranging from fundraising activities to accounting for GST.
It also answers various requests for information from around the country and pulls together information that a pre-school administration needs to know.
One special feature of the pre-school industry, which has highlighted the need for the guide, is the rapid turnover of administration volunteers and staff.
This means the pre-school is often run by a committee and people are generally only involved for the one year that their child attends.
This means information gained by someone involved at a particular time may not be passed on to succeeding committees.
The GST for pre-schools guide can be downloaded at www.ato.gov.au