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GST questions in relation to brokerage?

April 26, 2017brokerage GST relation

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GST questions in relation to brokerage?

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Following the introduction of the Goods and Services Tax (GST) in July 2000, stamp duty was abolished. GST will not be imposed on the purchase or sale value of shares bought and sold, as transactions of this nature constitute a financial supply, which is input taxed for GST purposes. However, it is likely that GST will be imposed on brokerage fees associated with such transactions. For more information on the effect on brokerage fees, you should contact your broker.