[Busmanagers] Expenditure Coding - Playground equipment

[Hart, Greg J]

Jenny

 

The GST code should be (G10) capital purchases, and you will claim back
any GST providing the school holds a valid tax invoice. (G10) is similar
to (G11) claiming back GST.

 

It will report to the ATO that you have made a capital purchase. When
you submit your BAS the ATO could contact you and ask for tax invoices
provided by the contractors.

 

The Chart of account code would be 86504!!

 

Thankyou 
Greg Hart 
Tax & Compliance Unit (DE&T) Ph:(03) 9637-3702. 
Fax:(03) 9637-3080. 
e-mail:hart.greg.j at edumail.vic.gov.au 
Mail:Financial Analysis Reporting & Taxation, Ground Floor, No 33 St.
Andrews Place, East Melbourne, 3002. 

________________________________

From: busmanagers-bounces at edulists.com.au
[mailto:busmanagers-bounces at edulists.com.au] On Behalf Of Thomas, Jenny
M
Sent: Tuesday, 20 March 2007 9:43 AM
To: Business Managers' Mailing List
Subject: [Busmanagers] Expenditure Coding - Playground equipment

 

Good Morning all

 

We are purchasing new playground equipment and I am unsure of how to
code the expenditure - costing in excess of $40,000?   I would
appreciate feedback/suggestions as to the correct way to go.

 

Many thanks

 

Jenny Thomas

Business Manager

Serpell Primary School

9842 8182

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