This practical webinar will assist you in identifying and calculating any GST adjustments required to be made in your clients’ GST returns for the period to March 2017.
Topics covered include when the "old" and "new" adjustment rules apply, how adjustments are calculated, the application of the adjustment rules when assets enter and exit the GST base (on purchase, registration, sale and deregistration), and when the use of an asset changes to total taxable or total non-taxable use.
Extensive use of worked examples will illustrate the application of the GST rules which apply to goods and services used for both taxable and non-taxable purposes.
- Know whether to apply the "old" or "new" change of use adjustment rules.
- Learn how to determine the percentage taxable use of an asset, both on acquisition and when making adjustments.
- Understand how to determine whether an adjustment is required and, if so, how to calculate the annual adjustment under the new rules.
- Know how the adjustment rules apply to assets which were zero-rated on purchase.
- Understand the adjustments required when an asset enters the GST net on purchase or registration, or leaves the GST net on sale or deregistration.
- Know when one-off adjustments are required to be made and how they are calculated.
DATE OF ORIGINAL BROADCAST
9 March 2017
Intermediate to senior accountants, in-house accountants, tax lawyers, and others who advise clients on GST issues.
Susan Ballantyne, Senior Associate, Tomlinson Law