Vouchers

Key requirements

A qualifying Multi-Redemption Voucher is sold for consideration, states a value, must be used to redeem goods or services, and generally does not specify a particular product. Where the issuer also supplies the redemption goods and can track redemption, sale at or below face value need not trigger GST; a premium above face value is taxable. Tax is then accounted on redemption and, subject to exceptions, on unused value at expiry. If redemption cannot be tracked, account on the sale consideration. An agent’s distribution fee is a separate service; a principal reseller accounts on its non-negative margin and cannot claim purchase GST under that treatment. A product voucher for specified goods or services is taxed when sold, without a second charge at redemption. A sold discount voucher is taxed on its sale and the later purchase on the discounted price.