Showing posts from January, 2016

How to handle GST on second-hand goods

Buying second-hand goods for your business can help keep costs down because they are usually cheaper than new goods. At this time of year, you might be able to pick up some good bargains from other businesses as they take advantage of summer sales to upgrade their own equipment. The good news is that if you're GST-registered, you can claim a GST credit on second-hand goods bought in New Zealand for your business – even if the seller isn't registered for GST. That's really handy if you, for example, buy a second-hand wheelbarrow from your neighbour to use in your gardening business, or pick up a second-hand printer in an online auction to use in your graphic design business.'s Tax and finance section explains all about GST, including how and when to register for GST . It's pretty obvious that new goods are not considered second-hand when it comes to GST. But certain other goods also can't be considered second-hand when it comes to GST,