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Time limit for GST credit for purchases

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Newbie

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Hi there,

 

I registered for GST in 2015 and I have been doing part time ride sharing (Uber) since then. I purchased a car for Uber and private purpose in December 2017 for $28,990 (including GST of $2,635) but forgot to claim the GST for my Uber business activity of 25%. i.e. $659. Can I claim it in my next activity statement since it is within period of review? Is the period of review "four years and one day from when you lodged the activity statement" is applicable in this scenario? I beleive, yes. Please confirm.

 

https://www.ato.gov.au/Business/GST/In-detail/Managing-GST-in-your-business/Reporting,-paying-and-ac...

 

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ATO Certified

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Hi @MJUber,

 

We agree with @macfanboy!

 

Assuming you are entitled to GST credits, then you appear to be within the set time limits for claiming.

 

Draft Miscellaneous Taxation Ruling 2018/D1 contains some further information, particularly Example 3 and 4 which we think are similar to your circumstances. Please note this is a draft ruling where the views outlined may change.

 

Thanks, @NelsonS

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Taxicorn

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Yes you can.

 

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Newbie

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Thanks Macfanboy. All most all the advised given in this community forum says that you need to claim it in the very next Activity statement without refering to 4 years and 1 day rule.

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ATO Certified

Community Support

Replies 0

Hi @MJUber,

 

We agree with @macfanboy!

 

Assuming you are entitled to GST credits, then you appear to be within the set time limits for claiming.

 

Draft Miscellaneous Taxation Ruling 2018/D1 contains some further information, particularly Example 3 and 4 which we think are similar to your circumstances. Please note this is a draft ruling where the views outlined may change.

 

Thanks, @NelsonS

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