GST – completing your activity statement - Australian Taxation Office

07 COMPLETING THE GST LABELS ON YOUR ACTIVITY STATEMENTSTEP 3 – COMPLETE PURCHASES ON THEFRONT OF YOUR ACTIVITY STATEMENTThis section provides information on:n what we mean when we say capital purchasesn what you do and do not report at G10n capital purchase for $1,000 or less.G10 CAPITAL PURCHASESWhat are capital purchases?Capital purchases are capital items you purchase including:n business assets you purchase such as machinery, cashregisters, computers and cars (these items are also referredto as plant and equipment)n land and buildings.These assets can be brand new or second-hand, and maybe imported.Things that are not capital items include:n trading stockn normal running expenses such as stationery and repairsn equipment rentals or leases.If you haven’t already done so, check the list ofsupplementary activity statement instructions on page 9to see if you need to obtain any additional instructions thatapply to your specific types of purchases.What you do and do not report at G10Report at G10: Do not report at G10:You report the following at G10:n amounts for capital items such as––machinery and equipment––cash registers––office furniture––computers––carsn the GST-inclusive market value of any capital item youreceive from your associate for no payment or for lessthan the GST-inclusive market value, if either––you have not received the thing wholly or partlyfor your business––the thing received is wholly or partly of a privateor domestic nature––the thing received relates wholly or partly to makingsales that would be input taxed.n the amount paid or payable for a purchase or importationof a car that exceeds the car limit for the relevant financialyear, only if you are specifically entitled to quote an ABNfor the purchase or importation.You do not report the following at G10:n purchases and importations that are not relatedto your businessn the stamp duty component of any capital purchasesn the amount paid or payable for a purchase or importationof a car that exceeds the car limit for the relevantfinancial yearn anything that is constituted by an insurer settlinga claim under an insurance policy or by an operatorof a compulsory third-party scheme settling a claimunder a compulsory third-party scheme (if you arenot an operator of such a scheme).27