Home Forums Money matters GST help on new shop fitout! Reply To: GST help on new shop fitout!

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robong, post: 263494, member: 87209 wrote:
Hi All
Hope you had a great Christmas! :)

Last month I opened a new cafe and would like to know more about claiming GST on purchases.
I am fully aware of claiming GST on capital and non capital items as well as remitting GST on sales from here on, however I am not sure about the shop fitout. The cost of the fitout (equipment, materials, labour etc) was around $200k inclusive of GST. Am I able to claim the GST component in one chunk? Sales have only been $5k so far so it looks like a refund from the ATO is in order? Or is it claimed incrementally as part of the deprecation schedule?

Thanks for your assistance!:)

Hi Rob,

If you report GST on a cash basis, you can claim the GST on the purchase (per invoice) based on the date paid. If you are paying it off over time instead of straight away, you will need to work out the GST for each payment for the relevant reporting period.

If you report on an accrual basis, you can claim it in the BAS period the invoice was raised.