GST on ticket prices?
Tue, 7 Dec 1999, 07:17 pmGrant Malcolm11 posts in thread
GST on ticket prices?
Tue, 7 Dec 1999, 07:17 pmIn the light of the current controversy over registered charities and the GST, i couldn't help wondering what companies were planning to do with respect to ticket prices.
My limited understanding is that there will be no requirement on community theatre companies to charge GST on their tickets unless they have a turnover of $100,000 or more. Can anyone confirm this?
Clearly theatre companies will be paying GST on all their inputs, so they'd be crazy not to consider passing on this expense.
Thoughts?
Cheers
Grant
My limited understanding is that there will be no requirement on community theatre companies to charge GST on their tickets unless they have a turnover of $100,000 or more. Can anyone confirm this?
Clearly theatre companies will be paying GST on all their inputs, so they'd be crazy not to consider passing on this expense.
Thoughts?
Cheers
Grant
RE: GST on ticket prices?
Thu, 17 Feb 2000, 02:29 pmNorma Davis wrote:
-------------------------------
In next months LINK there will be an article on the effects, or likely effects of the GST on amateur theatre companies. Compiled by David Young the item will have a FAQ section....
-------------------------------
The promised item by David Young, as reproduced in the ITA Link:
*****************
GST is here and it is here to stay
For most of you Theatre Clubs, as your gross earnings are under $100,000, you will not have to register for GST, though you may. I suggest you don't because it is hard enough to get treasurers and, with the added burden of GST, treasurers with this talent are going to be hard to find. Treasurers come and go and each has varying degrees of skills.
The impact of GST is going to increase costs without doubt. Just because we are non-profit, doesn't mean we are GST free when we pay for goods. Most goods we pay for, say at Bunnings, will have a GST component and we pay the total amount. So, as far as you can see, most of the goods and services we pay for will go up. Any production after JUNE 2000 will have an increase in costs, so, therefore, you may want to increase the ticket prices accordingly. Bar costs will rise, as well costs of programmes.
For the few clubs that have to register, because their annual turnover is over $100,000.
Turnover includes - grants, tickets sales, programme sales, memberships, raffle tickets, bar sales all added together. It is not after any costs.
Things you should do if you are GST Registered include:
1. Decide whether you should register for GST.
2. Think about memberships that go beyond 2000.
3. Evaluate your record keeping.
4. Review your printing requirements, including ticketing.
Unfortunately there is insufficient space here to do a 33 page seminar. However, David Young will be only too happy to see any Treasurer of Committee to talk about the impact of GST on your club. Contact David on 9227 1399.
The amount of GST collected by non-profit organisations will be minimal. The very name non-profit suggests that the income is matched by the expenditure. Any GST collected will be offset against GST paid. The impact will be in accounting and it is up to your treasurer to make sure that it is accounted for correctly.
If you have an accounting period different from 30 June, you are required to lodge GST returns monthly.
David Young
**************************
Cheers
Grant
-------------------------------
In next months LINK there will be an article on the effects, or likely effects of the GST on amateur theatre companies. Compiled by David Young the item will have a FAQ section....
-------------------------------
The promised item by David Young, as reproduced in the ITA Link:
*****************
GST is here and it is here to stay
For most of you Theatre Clubs, as your gross earnings are under $100,000, you will not have to register for GST, though you may. I suggest you don't because it is hard enough to get treasurers and, with the added burden of GST, treasurers with this talent are going to be hard to find. Treasurers come and go and each has varying degrees of skills.
The impact of GST is going to increase costs without doubt. Just because we are non-profit, doesn't mean we are GST free when we pay for goods. Most goods we pay for, say at Bunnings, will have a GST component and we pay the total amount. So, as far as you can see, most of the goods and services we pay for will go up. Any production after JUNE 2000 will have an increase in costs, so, therefore, you may want to increase the ticket prices accordingly. Bar costs will rise, as well costs of programmes.
For the few clubs that have to register, because their annual turnover is over $100,000.
Turnover includes - grants, tickets sales, programme sales, memberships, raffle tickets, bar sales all added together. It is not after any costs.
Things you should do if you are GST Registered include:
1. Decide whether you should register for GST.
2. Think about memberships that go beyond 2000.
3. Evaluate your record keeping.
4. Review your printing requirements, including ticketing.
Unfortunately there is insufficient space here to do a 33 page seminar. However, David Young will be only too happy to see any Treasurer of Committee to talk about the impact of GST on your club. Contact David on 9227 1399.
The amount of GST collected by non-profit organisations will be minimal. The very name non-profit suggests that the income is matched by the expenditure. Any GST collected will be offset against GST paid. The impact will be in accounting and it is up to your treasurer to make sure that it is accounted for correctly.
If you have an accounting period different from 30 June, you are required to lodge GST returns monthly.
David Young
**************************
Cheers
Grant
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