GST Consequences and Partner Taking Goods for Private Use
The Tax Office has also released a GST determination in which it states that when a partner takes goods held by the partnership as trading stock for private or domestic use, there is a supply by the partnership to the partner that is related to the partnership’s enterprise.
The determination says a taxable supply by the partnership to the partner will arise if all the requirements for a taxable supply are satisfied. That is, the partnership will be required to remit GST on the supply to the Commissioner.











