3.Time of supply – when the taxpayer accounts for the GST on the supply, when the supply was made.

4.Value of supply – what the value and charges for the amount of GST. There are different types of supplies – a.Testable supplies – which means that you registered the GST that you receive from supplies. When you purchase supply or services for your business and therefore you can then claim an input tax credit for the amount of GST mentioned. b.GST free – the company doesn’t charge or claim GST. This include: 1.Basic food 2.Health 3.Education 4.Child care 5.Non-commercial activities of charities and government schools 6.Raffles and bingo conducted by charities and government schools 7.Council rates, water, sewage and drainage services 8.Religious services 9.Exports 10.International mail. c.Input tax – where the GST is charged but the supplier cannot claim an input tax credit. It includes: 1.Financial supplies 2.The lease or hire of residential accommodation 3.The sale of used residential premises 4.Some fundraising events subject to certain conditions There are also input taxed events where a not for profit organisation that treat sales connected to the event as an input taxed sale such as charity, gift deductible entity and government schools. 2. Organisations that have registered for GST include GST in the sale price of their goods. Are there any sales that might not include GST? 80–100 words GST free – the company doesn’t charge or claim GST. This include: 1.Basic food 2.Health 3.Education 4.Child care 5.Non-commercial activities of charities and government schools 6.Raffles and bingo conducted by charities and government schools 7.Council rates, water, sewage and drainage services

8.Religious services 9.Exports 10.International mail. 3. Find out and document how government grants should be treated for GST purposes. Document your source or sources of information. 20–40 words When an organisation is registered for GST and also receives a grant funding (a government body or a private foundation) the organisation doesn’t need to pay GST on the funding payments only if it becomes a “supply” as return for the payment. -(and-when-not-to)/Grants-and- sponsorship/ 4. Explain what aTax Invoiceis, and the information that must be included on a tax invoice. 120– 150 words