GST to tarnish gold

WA’S income from gold exports worth an estimated annual $3.98 billion will be affected by a goods and services tax, warn KPMG advisors.

The advisors to energy and natural resources organisations focused on pressing issues facing the gold industry, including taxation change and GST.

KPMG partner Steve Scudamore said the gold industry, like other industries, will bear the cost of compliance with GST, including the up-front cost of its implementation.

“Between now and July miners should undertake a scoping and prioritisation review so senior management can adequately gauge the extent to which they can maximise benefits to be obtained and deploy appropriate resources,” he said.

Mr Scudamore said IT resources should be secured now to avoid competition with projects competing with the GST transition such as Y2K.

Add your comment

BNIQ sponsored byECU School of Business and Law


6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE10,000
49 tertiary education & training providers ranked by total number of students in WA

Number of Employees

BNiQ Disclaimer