Ato gst exempt items

ato gst exempt items

Machines are brought into New Zealand from Germany for testing.
Interest Income: Use ITS (Input Taxed Sale) as the tax code here.
For example, parking penalties imposed by the court as fines or by local authorities as infringement fees are punishments for offences against the Transport Act 1962.
There are some exceptions go to this.The results of the testing are collected, analysed and sent back to Germany.The tools don't have to be exported with the goods to be zero-rated.Before zero-rating, a supplier of maritime goods and consumable stores must be satisfied that the goods and stores are for a foreign-based pleasure craft, and that the craft is departing New Zealand.Business Private Usage: You should be determining the business usage percentage of items like motor vehicle, telephone, rent, power etc.Goods not in New Zealand at the time of supply or delivery to the final recipient Goods located outside New Zealand, which are not going to be imported into New Zealand, are zero-rated.Sale of a going concern To be a going concern, the sale must meet the following criteria: It must be the supply of the whole or stand-alone part of a taxable activity, from one registered person to another.Aircraft and boats exported from New Zealand under their own power can be zero-rated if exported within 60 days of the recipient taking possession and full documentation is provided to Inland Revenue.The church uses the car for two years, then sells.Asic Filing Fees: These are GST Free, insurance Policies: Most insurance policies include a stamp duty component.Contact us anytime for a free consultation and appraisal of your bookkeeping needs.Certain financial services, supplies of financial intermediation services may be zero-rated to recipients that are: registered for GST, and 75 or more of their supplies in a 12-month period are taxable supplies.

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This is because the child will receive the tuition in New Zealand.If your business usage percentage is 50 and your telephone bill is 100.00 including GST, then you can only claim.00 business usage including.54 GST.The offshore recipient wants to ensure the quality of the fruit.Example, a New Zealand insurance company insures a vehicle that is located outside New Zealand.However, some of these services may be zero-rated if they are physically performed outside New Zealand and they can be physically received only at the time and place where they are physically performed, except for services which are intangible in nature.The zero-rating applies to the final provisioning of consumable stores.Services provided directly in connection with an exported boat or aircraft will also be zero-rated.
Health Services: Some health services are GST free and some are not.