Retailers

• Special rules apply to gift vouchers.
   
• Changes to the price, for example from early payment or volume discounts, may mean adjustments to the GST position.
   
• GST does not apply where goods are obtained "free" under a frequent shopper program.
   
• No GST is payable on refunded deposits.
   
• Leases of shops are taxable.
   
• If you live above the shop, expenses will need to be apportioned to reflect the business usage in order to calculate input tax credits.
   
• The sale of a retail franchise may qualify as a GST-free sale of a going concern.
   
• If stock is stolen by customers, no adjustment need be made to the input tax credit claimed for the item.
   
• Input tax credits can be claimed for uniforms, tools and equipment purchased for staff, and in certain cases where staff are reimbursed for purchases.
   
• You can claim full input tax credits even if you supply credit facilities, provided that the turnover from them is below certain thresholds.
   
• Abbreviated forms of tax invoices for smaller sales may be satisfied by cash receipts.
   
• There is no need to issue a tax invoice if the value of the supply, excluding GST, is $50 or less.
   
• Stock applied solely for private or domestic use will not be eligible for input tax credits, and a GST adjustment must be made if input credits have already been claimed.
   
• To a limited extent, tax periods can be aligned with your normal balancing date.
   
• Eat-in and hot takeaway food is subject to GST.
   
• Retailers such as mixed businesses may be entitled to use simplified accounting methods for determining what proportion of their sales relates to GST-free food and what relates to taxable sales.
   
• Lay-by sales are subject to GST, but the GST is adjusted if the lay-by is later cancelled.
   
• GST on sales through coin-operated machines is attributed to the tax period in which the machine is emptied.
   
• GST on contracts subject to "cooling off" periods is attributed to the tax period in which that period expires.
   
• The normal GST accounting rules apply to goods sold on approval, or on a sale-or-return basis, floor plan arrangements, lay-bys or hire purchase agreements.
   
• GST does not apply to sales of tobacco, alcoholic spirits or perfume at an inwards duty free airport shop.
   
• Free promotions are not subject to GST.
   
• The retail sale of second-hand goods is subject to GST. There are special rules for determining entitlement to input tax credits, and for allocating GST where the goods are split up.
   
• Computer games and software sold before 1 July 2000 will not normally be subject to GST.
   
• A special input tax credit applies for sales tax on hand at 1 July 2000.
   
• Separate credits are allowable for alcoholic beverages and petroleum products held at 1 July 2000.
   
• Price changes are being monitored by the ACCC, which has issued pricing guidelines.
   
• Physical relabelling of stock on 1 July 2000 will be a major exercise.
   
• GST will be charged by registered contractors, but not employees.