• If your entity is not registered for GST
    Attention

    Warning:

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

    End of attention

    If your entity is not registered for GST, any GST you incur when acquiring an asset will be included in your cost base since you are not entitled to claim any associated input tax credits. As you do not include GST in the price of things you sell, your capital proceeds will not require any adjustment for GST.

    Last modified: 06 Oct 2009QC 27417