GST
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- Gold Wings
- Posts: 144
- Joined: Mar 2009
GST
GST advice ? If a helicopter is owned by a company that is registered for GST, and GST was paid on purchase of the aircraft, do I have to charge GST if I sell the machine to a private entity ? I could understand that if I was selling the machine to a company or business that it would be applicable. But as a second hand machine sold to a person, I would have thought that it was not applicable. The reason I am asking is that my accountant (alias tax man) is telling me that I have to charge GST to an individual, but I don't believe him ? Please advise your experience?
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- 2nd Dan
- Posts: 316
- Joined: Dec 2008
Re: GST
Hi Mick,
I am not an expert. However, my thoughts are being as you are registered for GST, you will need to charge GST on your goods and services (I.e. On the sale of the chopper).
If you are not registered for GST, then you don't charge GST. Makes it a bit unfair if you are competing with someone selling a machine not registered for GST to a private operator.
Happy to be corrected.
I am not an expert. However, my thoughts are being as you are registered for GST, you will need to charge GST on your goods and services (I.e. On the sale of the chopper).
If you are not registered for GST, then you don't charge GST. Makes it a bit unfair if you are competing with someone selling a machine not registered for GST to a private operator.
Happy to be corrected.
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- Gold Wings
- Posts: 144
- Joined: Mar 2009
Re: GST
Thanks Gents, correct the Tax Man wins again.
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- Silver Wings
- Posts: 33
- Joined: Jan 2017
Re: GST
"GST", rolls on and on........ Govts could think about zero personal income tax, just tax on our expeditures, can see some serious savings accounts / super etc growing.
Hell........"pensions" could be a thing of the past........hello treasurey.
Hell........"pensions" could be a thing of the past........hello treasurey.
If you aim for nothing, you'll hit it every time
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