SMSF - What GST is claimable?

[SYD]

Our SMSF is registered for GST.

My understanding is we can claim 75% of GST on the Annual BAS.

I have just been told that GST on accountant's fee and auditor's fee cannot be claimed. Does this sound right?

The fund does not hold any resi properties.

SYD

 

[coastymike]

GST not claimable in an SMSF on

1. audit fees
2. fees to prepare tax return
3. fees to prepare business activity statements
4. bank charges
5. residential property purchase and expenses.

 

[SYD]

Thanks Coasty

SYD