GST changes – effective 1 October 2010

8 September 2010

From 1 October 2010, the rate of Goods and Services Tax (GST) will increase from 12.5% to 15%. This could affect your transactions with Standards New Zealand in the following ways:

Application of GST – time of supply

As advised by the IRD, treatment of the increase to 15% GST is to be based on the general time of supply, which is either the date of an invoice, or the date payment is received, whichever comes first.

If you are invoiced before 1 October 2010, the GST component will be 12.5%.
If payment for your purchase is received before 1 October 2010, the GST component will be 12.5%.
If you are invoiced on or after 1 October 2010, the GST component will be 15%.

Standards New Zealand has included the information above on our website transaction pages, renewal and transaction emails, invoices, and other transaction-related communication.

Paying by post

If you are paying for publications or services by cheque in September 2010 and have not been invoiced, please ensure there is enough time for the cheque to be received by us before 1 October 2010. Payments received on or after 1 October 2010 that have not been invoiced in September will attract 15% GST.

Credits

Credits issued on or after 1 October 2010 will be based on the original payment or invoice amount including the rate of GST applied to that payment or invoice. A credit for a purchase invoiced or paid before 1 October 2010with 12.5% GST applied, will be credited with 12.5% GST applied.

Quotations

From 1 October 2010, all quotations generated by Standards New Zealand before 1 October 2010 that have not been invoiced or paid by 1 October 2010 will need to have 15% GST applied.

If you have any queries on GST for specific transactions or how Standards New Zealand is treating the increase to 15% GST, please call our customer services team during business hours on 0800 782 632, or email enquiries@standards.co.nz.

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Standards New Zealand
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Standards New Zealand is the operating arm of the Standards Council, and part of New Zealand's standards and conformance infrastructure. Standards New Zealand is an autonomous Crown entity responsible for managing the development and distribution of Standards across a range of sectors nationally.

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