I purchased a company car privately and, as such, paid no GST and claimed no GST credit. If i sell the car to another business do i need to add GST to the sale and add the GST to my next BAS? What if i sell to a private buyer, do i need to include a GST component to the sale? Thanks in advance!
Hi @doschops,
It would depend on who owns the vehicle now.
If it is still privately owned by you when you sell it, you would not charge GST.
If it is an asset of the company, the then company sells it, and they are registered for GST. You would need to charge GST on the sale.
We have a great post that you may find helpful.
Hi @doschops,
It would depend on who owns the vehicle now.
If it is still privately owned by you when you sell it, you would not charge GST.
If it is an asset of the company, the then company sells it, and they are registered for GST. You would need to charge GST on the sale.
We have a great post that you may find helpful.
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