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Accounting, Tax - Coggle Diagram
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Tax
If lease, can you net
off the revenue / expense?
If the loan repayment is a lease revenue, we need a tax invoice to expense. As payment on behalf of cust to financier, is financier going to issue us a tax invoice. (however this isn’t part of current construct). Also, resi mass market customers aren’t registered for GST
In current construct, they aren’t invoicing us for loan repayments so no GST.
If whole thing is subject to GST,
we may not get input tax credits
on what is going out
It is a bit of a problem pf Plenti start invoicing us for the lease repayment,
The element that’s the lease expense is the use of the system, but is that a supply for GST , our payment is what..? By calling the whole amount a lease payment for GST need to consider other side, is customer assigning us use of system (what good or service is being provided)
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