GST Input Tax Deduction Requirements for Secondhand Goods: Summary Fact Sheet

• Registered persons can claim input tax deductions on secondhand goods if specific requirements are met.
• The goods must be acquired from a non-registered person.
• Proper records and documentation must be kept, including details of the seller and the goods.
• The deduction is limited to the amount actually paid for the goods.
• Certain goods, such as precious metals, may have additional restrictions or exclusions.

Source: taxtechnical.ird.govt.nz

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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