Take Advantage of upfront GST on Hire Purchase Price
August 20, 2018
Claim input tax credits upfront on all cost component plus interest, instead of waiting until each instalment is paid. Provided you enter into hire purchase agreement on or after July 01, 2012.
How does hire purchase work?
Under a hire purchase agreement, you:
Purchase goods through installment paymentsUse the goods while paying for themDo not own the goods until you have paid the final instalment. Do you pay GST on hire purchases?
For a hire purchase agreement ent...
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