Notional input credits – Get it wrong and you could be loosing big time.
When the ATO audits your yard, this is one area that they focus on. Claim wrongly and you could be loosing big time. Generic accounting packages like MYOB, Quick Books, Quicken etc can not calculate Notional Input credits. Accountants not specialising in the automotive industry simply do not know about Notional Input Credits and the rules surrounding them.
So, how on Earth can YOU be expected to keep accurate records when there are a myriad of variations that can affect notional input credits. How can your accountant gather the numerous details, for each and every purchase/sale, without charging you a lot more? The chances are that a lot of guessing is already being done and that you are risking prosecution by claiming too much, or else you are not getting your rightful credits. Either way, it could amount to lots of money down the drain.
Fortunately for Car dealers, The EasyCars Solution is a simple answer to this complex issue….
Not only does this solve your tax problems, EasyCars practically solves all of your time consuming administration problems like,
- One entry completes;
- Your police book or dealer registry
- Your Government notices like form 1, 2, 3 etc
- Your transfers and disposals
- Your stock control
- Your invoice and/or finance invoice
- And so much more ….
Give John, Tracey or Leah a call now on (02) 9623 6403 so you can get ready for the new financial year.