tax invoice / normal invoice

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Forums › Finance and wealth management › tax invoice / normal invoice

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mattwnz

20515 posts

Uber Geek
+1 received by user: 4797

#2067746 3-Aug-2018 20:19

Tzoi:

But there's no requirement to provide a tax invoice unless requested

Although this is a bit of a tangent, I was told by one company where I asked for tax invoice, and they said they they don't have to provide it for items less than $50. But that doesn't seem to be correct according to https://www.ird.govt.nz/gst/work-out/work-out-records/records-tax/tax-info/tax-info.html

Aredwood

3885 posts

Uber Geek
+1 received by user: 1749

#2067805 3-Aug-2018 21:13

mattwnz:

Tzoi:

But there's no requirement to provide a tax invoice unless requested

Although this is a bit of a tangent, I was told by one company where I asked for tax invoice, and they said they they don't have to provide it for items less than $50. But that doesn't seem to be correct according to https://www.ird.govt.nz/gst/work-out/work-out-records/records-tax/tax-info/tax-info.html

IRD:

Supplies of $50 or less

A tax invoice is not needed for supplies of $50 or less (including GST). However, it is best practice to keep records for these purchases, such as invoices, vouchers or receipts. At a minimum, record the date, description, cost and supplier of all purchases.

Seems clear to me.

And understandable. Not much point in forcing the local dairy to provide a tax invoice to the kid who has spent 50c on some lollies.

Tzoi

425 posts

Ultimate Geek
+1 received by user: 90

#2067927 4-Aug-2018 10:40

You don't need a tax invoice to claim an input tax credit if the item is below $50, and likewise a seller is not obligated to provide you a tax invoice on an item below $50 even if you request one

pctek

807 posts

Ultimate Geek
+1 received by user: 157
Inactive user

#2068069 4-Aug-2018 18:45

https://www.ird.govt.nz/gst/work-out/work-out-records/records-tax/tax-info/tax-info.html

Tax invoice for supplies worth more than $1,000

For supplies worth more than $1,000 (including GST), the tax invoice must clearly show:

the words "tax invoice" in a prominent place
the name (or trade name) and GST number of the supplier
the name and address of the recipient of the supply
the date the invoice was issued
a description of the goods and/or services supplied
the quantity or volume of the goods and/or services supplied.
Examples: litres of petrol, hours of labour, kilos of potatoes etc.

It must also have either:

the amount, excluding tax, charged for the supply
the GST and the total amount payable for the supply, or
a statement that GST is included in the final price if it has been.

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