The delayed increase in GST remittances can be partly explained by the lagging effect. In a business experiencing exponential revenue growth, assuming it is profitable, the GST accrual at the end of the quarter is higher the accrued GST liability at the beginning of the quarter.
The correct way to assess GST remittances is:
GST remittances for the quarter
Add: Closing GST accrual
Less: Opening GST accrual
= GST for the quarter
This would go some way to explain the alleged GST shortfall. As for the rest, who gives a toss!
Lagging effect is even more pronounced with income tax liabilities.
As for an alleged ponzie scheme well they are real sharp if they do not doctor interest received and GST paid, arn’t they? Or perhaps this is how the numbers fell.
My thought Is that BIG will fess up to some of the funds being held in a restricted interest free account. Probably with FCC. Hopefully no sales staff have not been pushing non sales into the aggregator account at FCC for commission.
I am sticking around for the main event which has always been the US maket and the app “alleged” by some.
BIG way always going to be colourful given the promoters and their ambitions. If you want reliable, invest in garden nomes, the never surprise.
Good luck all.
The delayed increase in GST remittances can be partly explained...
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