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Gifts, Donations, Tips, Promotions and Stolen Property
Gifts, donations, tips and stolen property may be payable as if the associate had paid market value.
Most gifts are not supplies attracting GST because they are made without consideration and, in any event, may not be made in the course of an enterprise by a registered supplier.
Genuine tips to restaurant staff and others are not subject to GST, provided that they are not a pre-set amount or described as a service charge.
- At a $1000-a-plate fundraising dinner, none of the $1000 can be treated as a gift;
- The naming of a building or room after a donor will be treated as a sponsorship, not a gift, if the donation was conditional on the naming;
- Membership fees paid to a charity organisation are not gifts because they confer membership rights, even though these may not be tangible.
Not surprisingly, GST is not payable where property is stolen. Also, “Happy Hour” alcohol promotions are subject to GST at the discounted price.
Our dedicated team can assist you with all your accounting and GST related matters. Complete and submit the Express Enquiry form on the top right hand side of this page and we will contact you to discuss your enquiry or call us on 1300 QUINNS (1300 784 667) or on +61 2 9223 9166 to arrange an appointment.
© The Quinn Group Australia Pty Ltd ABN 86 078 526 860
The Quinn Group operates Quinn Consultants, Quinn Lawyers, Quinn Financial Planning and Quinn Financial Solutions. The Quinn Group provides related information in regard to legal, accounting and financial planning issues. Liability limited by a scheme approved under Professional Standards Legislation* *other than for the acts or omissions of financial services licensees.