- New Zealand Inland Revenue issued Technical Decision Summary No. 25/15 on June 12
- Clarification provided on GST input tax deductions, government grants, and omitted sales
- Taxpayer is a GST-registered company that filed returns with input tax deductions and received COVID-19 support payments
- Customer and Compliance Services findings led to taxpayer seeking clarification
- Taxpayer questioned input tax deductions, GST on COVID-19 payments, and omitted sale in GST return
- Tax Counsel Office determined input tax deductions were not allowed
- Output tax should be returned on COVID-19 payments
- GST return should be amended to include omitted sale
Source: news.bloombergtax.com
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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