Ouch! Got stung by GST legislation we didnt even know about until today. Put in a business insurance claim and was told by the insurer they would not pay the GST amount on the replacement tools as we claim 100% Input Tax Credits. So not only do we have to pay the excess, we also have to pay the GST on the replacement cost. Makes it tough being a small business. Imagine if it was a big claim, say $55,000. Wed be up for $5000 GST in addition to the excess!
Posted on: Thu, 03 Jul 2014 05:37:10 +0000
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