AAM Annual Fall Rug Auction
GST and The AAM!
Since the introduction of the Government imposed 6% GST we have had a few questions as to what we collect GST on and what we don’t. I want to first assure you that we have checked with the appropriate Government authorities to confirm we are required to collect and pay GST fees and we must do that regard- less of our ROS/Non-Profit status. We have contracted with a GST Reporting Expert who has recently completed and submit- ted our first quarterly report. It will be our intention to continue to use his services every quarter so we ensure we are within the GST guidelines outlined.
As for the question “What do we charge GST on” – the simple answer is whatever is a benefit to our members is subject to GST. Not only does this rule apply to our members but it also applies to our Sponsors, both Corporate and Event, as well as our advertisers. Of course, as an organization that contracts services we are subject to paying the GST charged by those that have registered for a GST number. We are required to charge GST on our scheduled events and classes, major events, fund-raising efforts, membership applications, merchandise, practically everything.
When paying for anything at the office, a receipt will be issued showing you the GST you have paid.
If anyone has any other questions or comments about GST in relation to AAM business, please do not hesitate to contact me directly at President.firstname.lastname@example.org
Thank you for your support