Can employee use of company assets result in GST implications?
Yes. GST implications may arise when employees use company assets for personal purposes.
When must output GST be accounted for on company assets?
Where a business has claimed input tax on the purchase of a company asset, output GST may need to be accounted for on the portion of the asset used for non-business or personal purposes.
Can personal use of company vehicles trigger GST obligations?
Yes. For example, if employees are allowed to use a company lorry for personal errands at no cost, the business may need to account for output GST relating to the personal usage portion.
