The solutions for Unit2-page33 exercise shows the GST for “Rent paid for commercial premises” as ITS.
However, the ATO booklet “GST for small businesses” says:
If you carry on your business from rented commercial premises, GST is included in your rent and you can generally claim a credit for that GST because it is a business expense.
Can you please help me with this?
7 years, 4 months agoDilani
Of course you are correct rent paid for commercial properties are GST. However residential rents are ITS. Hope this helps.