TABL5551 - PowerPoint slides - Week 11 - GST.pdf

Or intended to deal with eg expenses of incorporating

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Or intended to deal with eg expenses of incorporating or going out of business? Interpreted to extend to carrying on isolated adventures in the nature of trade TABL5551 - RHW adapted - Week 11 - GST 15
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5. Connected with the Indirect Tax Zone The “indirect tax zone” is defined in s 195-1 as basically Australia, but excluding the external territories and certain offshore installations etc A supply of goods will be connected with the ITZ ( s9- 25 ) if: the goods: are delivered, or made available in Australia to recipient are removed from or brought into Australia (including being installed and assembled) TABL5551 - RHW adapted - Week 11 - GST 16
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A supply of real property will be connected with the ITZ if the real property or land to which it relates is in Australia Supplies of anything else will be connected with the ITZ if: If the thing is done in Australia (eg if the service is performed in Australia); or If supply made through enterprise carried on in Australia; or TABL5551 - RHW adapted - Week 11 - GST 17
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“Connection “ in relation to other items: * rights or options to acquire another thing where that thing’s supply would be connected with the indirect tax zone (e.g. a packaged holiday: Saga Holidays ) * the recipient of the supply is an Australian customer (Australian resident not registered for GST who does not acquire for the purpose of an enterprise the customer carries on) – ‘the Netflix tax TABL5551 - RHW adapted - Week 11 - GST 18
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Exclusions from ITZ “connection” [ATL 1586-7] From 2017: supplies where ( ss 9-26, 9-27 ): (1) Supplier is a non-resident not making the supply through an enterprise they carry on in Australia (see LCG 2016/1 ) and (2) the supply is of a prescribed type (an inbound intangible supply between non-residents etc) Example: ATL 1587-8 TABL5551 - RHW adapted - Week 11 - GST 19
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5. Registered or required to be registered Registration may be obligatory or optional A person can only can be registered if they are ‘carrying on an enterprise’ Obligatory registration: a person must register if their annual turnover (current or projected) is $75,000 or more ($150,000 for non-profits): ss 23-5, 23-15 [ATL 1589] If carrying on an enterprise but below threshold then may choose to be register, but is not required to do so Certain supplies are excluded from calculation of annual turnover: ATL 1589 TABL5551 - RHW adapted - Week 11 - GST 20
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Example [ATL 1589-90] : Jo’s current annual turnover (12 months to end of current month) is $40,000. Jo is not required to register (but may do so if they wish) Jo advertises and sales trend increases to $6,500 per month. Projected annual turnover (12 month from beginning of current month) = $78,000. Jo must now register. Commissioner has obligation to register (and de- register) or discretion in prescribed circumstances [ATL 1589] TABL5551 - RHW adapted - Week 11 - GST 21
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6. The supply must not be GST Free or input taxed 6.1 “GST free” means that there is no GST payable on supply, BUT Supplier is entitled to claim input tax credits for any
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