is gst collected an asset or a liability - accounting term? - Australian Business Forum

Australian Business Forum

Mark Forums Read

		Australian Business Forum > General Business Discussion > Tax and Legal Discussion
is gst collected an asset or a liability - accounting term?

Tax and Legal Discussion Having problems with taxation and the law? Ask for help here.

Reply

24-04-08	#1
Smee Junior Member Join Date: Apr 2008 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 0	is gst collected an asset or a liability - accounting term? is gst collected an asset or a liability - accounting term?

Sponsored Links

24-04-08	#2
eher Junior Member Join Date: Apr 2008 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 0	is gst collected an asset or a liability - accounting term? Liability.

25-04-08	#3
WayneZ Junior Member Join Date: Apr 2008 Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts Rep Power: 0	is gst collected an asset or a liability - accounting term? Liability.Taxes collected on behalf of a government taxing authority become a current liability on your books because you half to pay it to the taxing authority soon after you collect it.

Reply

Tags

accounting, asset, collected, gst, liability, term

« Previous Thread | Next Thread »

Thread Tools
Show Printable Version Email this Page

Posting Rules
You may not post new threads You may not post replies You may not post attachments You may not edit your posts BB code is On Smilies are On [IMG] code is On HTML code is Off Trackbacks are On Pingbacks are On Refbacks are On Forum Rules

All times are GMT +11. The time now is 08:50 PM.