Is GST Paid and input tax credit the same thing?

[orabrush]

Or does it have something to do with only paying GST at one stage? Like if a warehouse buys something from a manufacturer and the warehouse sells it to a shop.

[fiestas*girl]

in a word yes

the terminology is used interchangeably

[happyroo_bunji]

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@orabrush wrote:

Or does it have something to do with only paying GST at one stage? Like if a warehouse buys something from a manufacturer and the warehouse sells it to a shop.

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Ask people that matter the ATO.  Their definition is the only one that matters

[fiestas*girl]

thanks Happy roo

As a tax agent, one who prepares all manner of taxation documents for teh ato and asseses tax payable based on taxation law I would have thought my answer would suffice

some poeple pay me ALOT of money for my taxation work

[happyroo_bunji]

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@fiestas*girl wrote:

thanks Happy roo

As a tax agent, one who prepares all manner of taxation documents for teh ato and asseses tax payable based on taxation law I would have thought my answer would suffice

some poeple pay me ALOT of money for my taxation work

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I didn't mean to insult you, I had no idea you are a tax agent.

[2106greencat]

fiesta - you could have put in your post that you are a Tax Agent -

I was also going to adivse the OP the same way happy did, we are not mind readers here, and as I didn't know the answer was correct, in all good faith would have suggested the ATO as well.

Don't feel happy has any reason to apologise.