SearchDeregistering GST
James asks:
(updated on Tuesday, December 02nd 2014)
Hi there, I have an holdings company which is GST registered. The company used to have taxable income activities and bank investment portfolios. I sold the taxable income activities to another company two years ago, so now the holdings company only has the bank investment portfolios. However, I still file the GST returns and then get GST refunds as there is no GST output (only investment income). The GST input is only a portion of home office expenses, as the company has no taxable activity. Should I deregister GST as the investment income is exempt income for GST? Thanks, James
Our Experts Answer:
Dear James, yes, the GST act requires you to deregister within 28 days of your taxable activity ceasing.
Most Read
| Unity First Home Buyer special | 3.99 |
| SBS FirstHome Combo | 3.99 |
| ICBC | 4.25 |
| Co-operative Bank - First Home Special | 4.35 |
| Co-operative Bank - Owner Occ | 4.45 |
| TSB Special | 4.49 |
| ANZ Special | 4.49 |
| ASB Bank | 4.49 |
| SBS Bank Special | 4.49 |
| Unity Special | 4.49 |
| Westpac Special | 4.49 |
| TSB Special | 4.00 |
| Kiwibank Special | 4.49 |
| Kainga Ora | 4.49 |
| Nelson Building Society | 4.59 |
| ICBC | 4.59 |
| Unity Special | 4.65 |
| SBS Bank Special | 4.69 |
| ANZ Special | 4.69 |
| BNZ - Std | 4.69 |
| Westpac Special | 4.75 |
| ASB Bank | 4.75 |
| ICBC | 4.99 |
| Kainga Ora | 5.15 |
| SBS Bank Special | 5.29 |
| Westpac Special | 5.29 |
| BNZ - Std | 5.29 |
| Kiwibank Special | 5.39 |
| TSB Special | 5.39 |
| ASB Bank | 5.45 |
| AIA - Go Home Loans | 5.45 |
| Co-operative Bank - Owner Occ | 5.49 |
| BNZ - Classic | 5.59 |
| SBS FirstHome Combo | 3.29 |
| AIA - Back My Build | 3.34 |
| SBS Construction lending for FHB | 3.74 |
| CFML 321 Loans | 3.95 |
| Co-operative Bank - Owner Occ | 4.99 |
| Co-operative Bank - Standard | 4.99 |
| Heartland Bank - Online | 5.30 |
| ICBC | 5.39 |
| Kiwibank - Offset | 5.65 |
| Kiwibank | 5.65 |
| Kainga Ora | 5.69 |
