About this Form

Use this return when a creditor sells a debtor’s goods in satisfaction of a debt and there is GST to be accounted for.

When to use this form

A special GST return must be files when a creditor sells a debtor’s goods in satisfaction of a debt. If a creditor repossesses and then resells goods that were used in a taxable activity, the GST must be accounted for on the sale, unless either:

• the debtor advises the creditor in writing that the sale would not be taxable if they had sold the goods themselves, and the reasons why such a sale would not be taxable, or
• the creditor holds enough reasonable information to conclude that a sale by the debtor would not have been taxable.

The creditor’s responsibility to file a special GST return is not affected by whether or not they are registered for GST.

What you will need

• Registration number of the person selling the goods (creditor)
• Registration number of the person whose goods were sold (debtor)

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