I plan to buy a new vehicle under my discretionary trust which is 50% member/partner of a trading Partnership, the business is selling tools and equipment. But I chose not to buy vehicle under the Partnership.
the trust is currently not registered for GST yet, and I want to register GST soon to buy new vehicle to claim some GST credit. i will do logbook records for 12 weeks for the new vehicle to work out correct % for business. i think about 80%
is it legitimate to temporarily register GST for the trust to claim GST on my new vehicle and cancel GST later if no longer need? of course, i have proper tax invoice of vehicle from dealer and use a lot for business and believe the trust is considered as an 'enterprise' in this case.
Please advise.
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