31 paragraphs found in INT 1031
AusCF entities are: (a) not-for-profit entities; and (b) for-profit entities that are not applying the Conceptual Framework for Financial Reporting (as identified in AASB 1048 Interpretation of Standards ). For AusCF entities, the …
Revenues, expenses and assets shall be recognised net of the amount of goods and services tax (GST), except where paragraphs 7 and 8 …
The GST is a tax on the supply of goods and services which is ultimately borne by the final consumer but is collected at each stage of the production and distribution chain. The terms ‘taxable supply’, ‘input taxed’, ‘input tax credit’, ‘GST-free’ and …
The Urgent Issues Group discussed Issues Paper 04/3 “Revision of Various UIG Abstracts for 2005” in relation to this Interpretation at meetings on 4 May and 10 June 2004. In developing the superseded Abstract, the UIG discussed Issue Summary 99/9 …
Statement of Standard Accounting Practice SSAP 5 Accounting for Value Added Tax Compilation detailsUIG Interpretation(as amended) Compilation details are not part of Interpretation 1031. This compiled Interpretation applies to annual reporting periodson …
Pronouncement Month/date issued Effective date(annual reporting periods … on or after …) Application, saving or transitional provisions Interpretation Jul 2004 (beginning) 1 Jan 2005 see (a) below AASB 2007-8 24 Sep 2007 (beginning) 1 Jan 2009 see (b) …
Paragraph affected How affected By … [paragraph/page] AusCF1 added AASB 2019-1 [page 36] 3 amended AASB 2014-5 [68] 4 amended AASB 2007-10 [115] 9-10 amended AASB 2007-8 [6] 12 amended deleted AASB 2007-8 [7, 8] AASB 2019-1 [page 36] 13 amended AASB …
The GST legislation provides that the price quoted for the supply of goods and services and the price paid by the purchaser must include the amount of the GST where applicable. As such, the gross proceeds collected by the supplier includes the amount of …
While authoritative requirements in Australia do not deal specifically with accounting for the GST, Accounting Standard AASB 15 Revenue from Contracts with Customers specifies requirements for recognising revenue from contracts with customers and states …