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James Millar
  • Total posts: 1,739

You have nothing to worry about.

Just be careful going forward with regards to adding a GST registration. If The business acquires assets whilst not registered for GST and then registers and then disposes of a business asset there can be GST on the disposal – even though no credit was claimed on the way in. In other words set your GST start date to a time before any major business assets were acquired so that you can claim the credits.

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