Tag "GST"

GST Q&A – Tax Invoices and Second-Hand Goods

Council has been requested to provide a GST tax inclusive invoice for the sale of 2nd goods (machinery) to a company for $20,000. The item was sold on consignment via an agent.

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Consequential amendments

The general GST rules for registration, tax periods and GST returns, as well as the various turnover thresholds, will need to be modified to accommodate the new rules for intangible offshore supplies. The general rule is that non-residents are only required to be registered if they make supplies connected with the indirect tax zone, and […]

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Status of the recipient of the supply

Since no GST liability arises under the amendments if the recipient acquires the thing for a wholly creditable purpose it follows that the supplier should know whether or not this is the case. Since liability for the GST rests with the supplier, not the recipient, it becomes the supplier’s responsibility to investigate the registration status […]

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Determining if recipient is an Australian resident

The question of whether the recipient of the supply is an Australian resident is a key concept in determining whether the supply is made to an “Australian consumer”. The term “Australian resident” is currently defined in the GST Act by reference to the Income Tax Assessment Act 1936, but the tax is not intended to […]

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Supplies subject to the new measures

The proposed s 9-25(5)(d) will deem all supplies of intangibles (i.e. things other than goods or real property) to be connected with the “indirect tax zone” (for all practical purposes, “Australia”) where they are made to an Australian consumer. This means that supplies that were previously outside the Australian GST net because they were not […]

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The ‘Netflix Tax’ will catch more than just movies

In a widely anticipated move, the Government has announced its intention to impose GST on offshore intangible supplies to Australian consumers from 1 July 2017. Although the measure has been dubbed the “Netflix” tax, draft legislation indicates that the reach of the new tax will go beyond merely taxing movies.

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GST Q&A – agency relationships between Council and organisations that hire facilities.

This question follows on from previous questions I have asked regarding agency relationships between Council and organisations that hire our facilities.

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GST Q&A – GST & Grant Payments

Council is seeking to run an Environmental grants program from 1 July 2015 where by it will provide amounts of $3,000 $1,000 and $150 to landowners and business. They will then spend this on plants, materials and education for environment purposes. These will be audited and inspected by the Council.

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GST Q&A – Council able claim the GST component of a GST inclusive deduction?

With regards to salary sacrifice arrangements for employees, is Council able claim the GST component of a GST inclusive deduction? e.g. Electricity.

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GST Q&A – Reclaiming GST collected from income from sales

Council is considering joining a class action to reclaim GST collected from income from sales of various assets. If this is successful, it is possible that the ATO may attempt to reverse any ITC claimed by the purchaser as well. In this instance, is it possible that Council may have an obligation to refund the […]

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