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Tax Update – NFP and Car Sales


Monday, 12th December 2005 at 12:12 pm
Staff Reporter
The Australian Tax Office has updated its Charities and motor vehicle trade-ins fact sheet.

Monday, 12th December 2005
at 12:12 pm
Staff Reporter


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Tax Update – NFP and Car Sales
Monday, 12th December 2005 at 12:12 pm

The fact sheet Charities and motor vehicle trade-ins has been updated to include important GST information about the non-commercial rules for charities that trade-in motor vehicles.

The updated fact sheet is useful if your organisation:
– purchases vehicles by trading in a current vehicle
– sells vehicles at auction, or
– has ever treated a GST-free trade-in as a taxable trade-in.

The fact sheet explains when you should issue a tax invoice to a car dealer, what your GST obligations are when issuing tax invoices and what to do if you need to correct a GST mistake.

If you would like a copy in WORD format just send us an email with the words
ATO Motor Trade-Ins Fact Sheet in the subject line to probono@probonoaustralia.com.au.

Or go to www.ato.gov.au/nonprofit




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Tags : Taxation,

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