How does a preschool account for GST correctly when selling Chocolates as a fundraiser? i.e. Cadbury Chocs.?

Answer 1

In short, ur preschool is not a gst registered trader. this means that u may have paid gst when purchasing the chocs, but u cant claim it back. And you also cant collect any gst when u are selling the chocs. So no worries. :D

Answer 2

in short there is no gst on charity items, fundraising by all definition is charity.

To make things as clear as mud though gst is paid on the purchase of the choclates to sell for fundraising.

hope that helps

Answer 3

I would think that if you pay the GST when you purchase the chocs and then you do not have to charge GST on your resale..