Support eligible expenditure
Expenses must serve qualifying investment activity and cannot include expenditure prohibited by the GST regulations. Normally a valid tax invoice is required. Invoices addressed to a trustee or fund manager can be considered under the stated concession when the fund records the cost, pays from its bank account and holds an allocation statement cross-referencing the original invoice. The relevant party must undertake not to claim the same GST again.
Check timing and retain listings
Umbrella/master-fund invoices have additional conditions, including unincorporated fund structures and the same trustee. Eligibility generally follows the preceding year’s income-tax concession, with specified first- and second-year administrative exceptions. A first year that fails the spending condition does not become claimable merely because the second year qualifies. Maintain invoice-date purchase listings and separate late-claim records, using the applicable recovery rate rather than assuming full repayment.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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