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Tax codes for imported non capital goods before GST is charged

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I've been trying to find out but to no avail - when you import goods (non capital, usually under $10k) from overseas, what tax code do you apply?  The GST isn't payable until the import co (eg FedEx, DHL) charge but the overseas company invoice occurs before this, and there is no GST.

 

Can you use NCF for this? My reading indicate it seems more for bank charges etc but I can't find anything more appropriate.

 

Thank you in advance!

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Hi @daer,

 

Thanks for your patience whilst we received information from a specialist area.

 

Although the overseas company invoice does not include GST the importation of the non capital item is still classed as a taxable importation (where it’s valued exceeds A$1,000) for GST purposes.

 

As such, when accounting for the purchase the cost should be GST inclusive (i.e. non-capital expense Inc. GST).

 

The import documentation will include the customs value of the item as well the GST applicable.

 

More information on claiming GST credits on taxable importations and applying the correct value to the importation can be found on our website.

 

Thanks, JodieH.

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Community Support

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Hi @daer,

 

We're checking information with a specialist area regarding your query to see if we can provide a response and we'll get back to you as soon as possible.

 

Thanks, JodieH.

 

Best answer

ATO Certified

Community Support

Replies 0

Hi @daer,

 

Thanks for your patience whilst we received information from a specialist area.

 

Although the overseas company invoice does not include GST the importation of the non capital item is still classed as a taxable importation (where it’s valued exceeds A$1,000) for GST purposes.

 

As such, when accounting for the purchase the cost should be GST inclusive (i.e. non-capital expense Inc. GST).

 

The import documentation will include the customs value of the item as well the GST applicable.

 

More information on claiming GST credits on taxable importations and applying the correct value to the importation can be found on our website.

 

Thanks, JodieH.

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