• GST and vouchers – completing your activity statement

     

    Attention

    Important

    Read this in conjunction with GST – completing your activity statement (NAT 7392).

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    To complete the relevant GST boxes on your activity statement for the reporting period, you may use either the:

    • accounts method
    • calculation worksheet method.

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    The amounts you report on your activity statement will depend on the accounting basis you have chosen or are otherwise required or permitted to use. You can account on either a:

    • cash basis
    • non-cash basis.

    Vouchers

    A voucher:

    • is a token, stamp (but not a postage stamp), coupon or similar article, or a prepaid phone card or facility
    • has a stated monetary value
    • can be redeemed for other supplies in accordance with its terms.

    The stated monetary value may be:

    • printed on the voucher
    • printed on documents accompanying the voucher
    • a top up amount for a phone card.

    Broadly speaking, if you sell a voucher for its stated monetary value and the holder is entitled to redeem it for goods or services up to that value, you don't account for the voucher on your activity statement until it is redeemed.

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    Choosing an accounting method

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    Redeeming vouchers

    When a voucher is redeemed in full for goods or services you sell, the payment for the sale is the stated monetary value of the voucher and any additional payment received.

    You report the full price of the sale (including the value of the voucher if it is fully redeemed and any additional payment received) at label G1 (total sales) on your activity statement for the reporting period in which the voucher was redeemed.

    If you use the accounts method to calculate the amount of GST on your sales, report the GST in the price of the sale, for which the voucher was redeemed, at label 1A (GST on sales) on your activity statement in the relevant reporting period.

    If you use the calculation worksheet method, use the worksheet to calculate how much to report at label 1A.

    There are other rules relating to vouchers that you may need to know about, for example, where:

    • the price of the voucher exceeds its stated monetary value
    • the voucher does not have a stated monetary value
    • the voucher is not redeemed
    • the voucher is only partially redeemed.

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    GST definitions: payment, sales

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    How you claim GST credits on your activity statement

    Broadly speaking, when you buy a voucher, you don't claim input tax credits on your activity statement. When you redeem a voucher for goods and services, you claim input tax credits on your activity statement.

    If you purchase a voucher and then use the voucher to obtain something that is a taxable supply to you, you are entitled to claim a GST credit if that purchase is used in your business. However, you are not entitled to claim a GST credit for that purchase if it either:

    • relates to making input taxed sales
    • is of a private or domestic nature.

    Regardless of whether you account for GST on a cash or non-cash basis, you must claim your GST credits for any purchases you make with the voucher, in the same reporting period you redeem the voucher, and not in the reporting period that you purchase the voucher.

    Report the price you paid for the voucher at label G11 (non-capital purchases) on your activity statement.

    If you are using the accounts method, report any GST credit you are entitled to claim at label 1B (GST on purchases).

    If you are using the calculation worksheet, use the worksheet to calculate the amount of GST credit to report at label 1B.

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    GST definitions: GST credits, purchases

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    More information

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      Last modified: 04 Jun 2014QC 17479