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  • GST related expenditure



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    An immediate deduction for the cost of plant or software acquired or upgraded for the purpose of meeting existing or future obligations or rights under the GST law was available where you entered into a contract to do so during the period 1 July 1999 to 30 June 2000.

    You must have also met the following conditions to be eligible for the deduction:

    • became the owner of the plant or software before 1 July 2001
    • used the plant or software for producing assessable income or had it installed ready for that use before 1 July 2001
    • had a pre-GST annual turnover of $10 million or less
    • incurred the expenditure to meet existing or future obligations or to exercise existing or future rights under the GST law and
    • been registered under the GST Act immediately before 1 July 2000.

    If you claimed the deduction but failed to meet the above conditions you will need to amend your tax return for the income year ended 30 June 2000 accordingly.

    Last modified: 13 Feb 2020QC 27380