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SuperFund and GST

SuperFund and GST

SuperFunds that are registered for GST will be able to claim GST on certain assets and transactions. SuperFund allows you to enter the GST that is claimable on certain transactions and assets, where you have annotated that the fund is registered for GST.

Annotating a Fund as registered for GST

  1. From the Fund menu, click Select a Fund.
  2. On the "Select a Fund" window, highlight the fund and click Years, and then View.
  3. Select Registered for GST, and click Save and Close.

Entering GST claimable on transactions and assets

Where a Fund has been annotated as 'Registered for GST' the fund will have access to 'GST Claimable / Payable' fields.

 

Note: When entering the transaction or asset details, the GST claimable will default to one eleventh of the total. This will need to be amended to the amount that the Fund is able to claim; in most cases this will be 75% of the amount. 

Program and version

SuperFund, all versions