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GST & gift vouchersby MURPHY on 2005-08-12 12:14:50 If a company purchases a gift voucher for $100 does this $100 include GSTand can it be claimed ? Likewise if the company did not use the voucher and decided to sell it does it charge GST on the sale ? Thanks Murphy GST & gift vouchersby J on 2005-08-12 15:18:02"Murphy" wrote in message news:42fc0600$0$22219$afc38c87@news.optusnet.com.au... > If a company purchases a gift voucher for $100 does this $100 include GST No GST > and can it be claimed ? Nothing to claim. Likewise if the company did not use the voucher and > decided to sell it does it charge GST on the sale ? No GST charged GST happens when the voucher is used. > > Thanks > > Murphy > > GST & gift vouchersby LIONHEART on 2005-08-13 10:32:19"Murphy" wrote in message news:42fc0600$0$22219$afc38c87@news.optusnet.com.au... > If a company purchases a gift voucher for $100 does this $100 include GST > and can it be claimed ? Likewise if the company did not use the voucher > and decided to sell it does it charge GST on the sale ? > > Thanks > > Murphy >Yes it "should" include GST and then yes it may be claimed but to claim GST >you would need to be in possession of Tax Invoice/Receipt which states GST >payments GST & gift vouchersby TOM N on 2005-08-13 02:04:17 Lionheart wrote:> "Murphy" wrote in message > news:42fc0600$0$22219$afc38c87@news.optusnet.com.au... >> If a company purchases a gift voucher for $100 does this $100 include >> GST and can it be claimed ? Likewise if the company did not use the >> voucher and decided to sell it does it charge GST on the sale ? >> >> Thanks >> >> Murphy >Yes it "should" include GST and then yes it may be claimed but to >claim GST you would need to be in possession of Tax Invoice/Receipt >which states GST payments Lionheart please learn what ">" means. It is used to signify the lines of the previous poster, not your input. Secondly, generally speaking GST is not applicable to vouchers, and is charged when the voucher is redeemed for taxable goods and/or services. "GST will be payable to the extent the consideration for the supply of the voucher exceeds the face value of the voucher. The Goods and Services Tax Act] requires that GST is payable on the supply made on redemption of the voucher if that supply is a taxable supply, rather than at the point of supply of the voucher itself." As per usual, there are exceptions. http://law.ato.gov.au/atolaw/view.htm?locid='GST/GSTR20035/NAT/ATO' GST & gift vouchersby LIONEL on 2005-08-15 08:19:06 Tom N wrote:> Lionheart please learn what ">" means. It is used to signify the lines of the previous poster, not your input. Damn, here I was wondering why all these replies were being posted without any comment . . . I automatically get a blue line down the left in my client so I just assumed there was no reply, how frustrating!
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