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Managing GST registration status

GST

Set GST registration status on signup During the signup process, you will be asked to confirm whether your body corporate is registered for GST or not. Your answer will determine how contributions are calculated and whether or not GST should be charged to uni...

Accounting for GST in provisions and outgoings

GST

By default, Commonview applies GST to all maintenance expenses and provisions. This is regardless of whether your body corporate is registered for GST or not.  When you create or edit a maintenance task, you will be asked to input the forecast cost as GST exc...

Accounting for GST in cashflow

GST

Depending on whether your body corporate is registered for GST or not, the cashflow table will display different amounts. Body corporates registered for GST For GST registered body corporates, maintenance costs, fees and contributions do not include GST when...

GST and contributions

GST

Commonview calculates contributions differently depending on whether the body corporate is registered for GST or not. Body corporates registered for GST Commonview will use the GST exclusive costs to calculate contributions. GST will then be added to the fin...

Page 50: Formulas

Contributions For registered body corporates CONTRIBUTIONS = PROVISIONS (excl GST) - INTEREST + TAX + FEES (excl GST) +- ADJUSTMENT For non-registered body corporates CONTRIBUTIONS = PROVISIONS (incl GST) - INTEREST + TAX + FEES (incl GST) +- ADJUSTMENT C...

Page 51: Other reusable content...

How does Commonview manage GST?

GST

Commonview supports both GST registered and non-registered body corporates. It also allows administrators to change their body corporate's GST registration status at any time. Non-registered body corporates Commonview recognises that GST paid to suppliers ar...