GST

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Mick White
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GST

Postby Mick White » Tue Aug 15 2017, 04:46

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?
Twin Head
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Re: GST

Postby Twin Head » Tue Aug 15 2017, 05:23

Simple answer YES
Biggles
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Re: GST

Postby Biggles » Tue Aug 15 2017, 05:24

Yes you do unless you are selling to somebody overseas.
bl@ckers
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Re: GST

Postby bl@ckers » Tue Aug 15 2017, 05:24

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.
Helix130
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Re: GST

Postby Helix130 » Tue Aug 15 2017, 09:40

Because the goods are supplied in Aust it is subject to gst
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Eric Hunt
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Re: GST

Postby Eric Hunt » Tue Aug 15 2017, 10:53

You probably claimed the gst on the first year's tax return, and are claiming gst on things done to it.

When you sell, you will need to pay the Feral Garment the gst on the sale, so if you don't charge it to the buyer, you will lose.
Mick White
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Re: GST

Postby Mick White » Tue Aug 15 2017, 23:02

Thanks Gents, correct the Tax Man wins again.
jab160
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Re: GST

Postby jab160 » Wed Aug 16 2017, 05:20

"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.
If you aim for nothing, you'll hit it every time

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