Unconditional Gifts and GST

Unconditional Gifts and GST

Publication IS 20/09 GST – unconditional gifts (ird.govt.nz) was published on 23 December. It clarifies that a payment made to a GST registered non-profit body as an unconditional gift is not consideration for a supply and is not subject to GST. Also, unconditional gifts are not included for the purposes of determining whether the entity has reached the threshold requiring it to register for GST.

Non-profit bodies therefore need to know when they are receiving unconditional gifts.

This interpretation statement also looks at what voluntarily means, issues of specific purpose, identifiable direct value benefit and so on.

Content via Tax-e-mail, Issue 2101, Small Business Institute Ltd

Disclaimer
Unfortunately, with details changing all the time and at such speed, we need to add that the above content is correct at the time of writing as far as the author is aware and is very much subject to change. We have, to the best of our ability, acknowledged any shared content. All related links provided to the corresponding websites are subject to change as they are live links.