went to the op shop to do some donations today, upon arriving saw they had boxes of brand new C4 envelops for sale at 40% of the retail price, purchased $30 in the end, however it has no tax included, does that mean these envelops I purchased can not claim the GST amount back? can I even claim these as business expenses that it does not have gst included (if gst is not included)?
Does Anyone Know Stationery Items Purchased at an OP Shop Including GST?
Aerith-Waifu on 31/10/2022 - 18:09
Last edited 31/10/2022 - 18:34 by 1 other user
Last edited 31/10/2022 - 18:34 by 1 other user
Comments
+1 for the solid source.
Oh interesting, first time purchased something from the OP shop too!
So no gst credit, what happens in the future I wont be using that many envelops and decided to sell some? Do I have to charge the customer GST even though I didnt get any GST credit on the first place?
decided to sell some?
As a business?
what happens in the future ?
You get an accountant
You didn't get any GST credits because you didn't have to pay GST.
what happens in the future
Your 'stock' was purchased ex GST…..
Your sales, if you are registered for GST, yes will include GST in the final price.
Ok, not selling then:) Keeping using these envelops until totally used:) Cheap cheap me:)
@Aerith-Waifu: That doesn't make sense - you can sell them at a profit, eg $3 per hundred and then add GST to it, $3.30 per hundred, the price is still attractive to a buyer and you still profit!
@kiitos: Yeah it's strange logic….. The OP has missed out on ~$2.73 in GST input credits for the $30 ex GST purchase.
If they sell these all tomorrow for $50, The op would have to pay ~$4.55 in GST on that sale, so still making a profit of ~$15.
purchased $30 in the end
Did you get a tax invoice? That should specify whether there's any GST. The $30 would be a business expense that can be claimed regardless of whether GST was included. The tax difference with and without GST is around $2.50.
I actually did! Total said $30, in the tax portion its $0. Might not need that many envelops as its like $2 for 100 pieces. I bought 15 stacks………..way too many now I think about it. lol
way too many now I think about it. lol
ha! resell, resell! lol
Do I have to charge GST if I resell them? LOL (I am GST registered)
Who uses envelopes these days?
I get about 2 a month in the letterbox.
I try not to look - they're all bills!
We actually use some, but no way we going to need that many…..lol
Oh envelopes! I read it as eneloops, I thought they were really cheap at $2 for 100
I get loads of envelopes - unfortunately its from the bank and related to telling me that my interest rate is going up. I'm expecting another one soon
Depending on the bank you can opt in to go paperless.
PS : Thanks for spelling stationery correctly
They didn't. Look at the revisions.
Lol. I take that back.
@scrimshaw - thanks for knowing how to spell stationery.
Stationers sell stationery. Would that make this opshopery
@TooSerious2: Possibly. The aforementioned stationery was stationary until it was purchased, after which it temporarily ceased to be stationary. But it was always stationery, of course
How do you know they weren't talking about buying moving items at an OP shop?
Like pets? Or one of those drinking bird toys? Or boxes and packing tape?
If you really want to sell part of you haul you could that as a private person and don't involve your company. Then the GST question is irrelevant and you don't have to pay tax for the sold items.
going to keep it, i estimate we will run through them in about 11 months time, not worthy the trouble of selling them for such small profit
Yeah, no gst payable for second hand purchases through non profits. You can claim the whole amount as a deduction, but you get no gst credit.
Source: my neighbour attempted an accounting subject.