Re: [SL] Gift Vouchers

[George O. <geo...@ya...>]

On Monday 23 April 2007, Paul Tammes wrote:
> Ashley J Gittins wrote:
> > On Mon, 23 Apr 2007, George Osvald wrote:
> >
> > The actual ruling on vouchers is here if you need more detailed
> > information:
> > http://law.ato.gov.au/atolaw/view.htm?locid='DGS/GST2000D22/NAT/ATO/fpF4'
> >&PiT=99991231235958
>
> Apart from legal and accounting issues, I suppose it is safe to say that
> a gift-voucher is (for the customer) as good as cash as for payment
> purposes. Only cash can be spent anywhere, where the gift-voucher is on
> a per ship or per sales-chain basis.
> Why anybody would want to limit the choices of the friend receiving the
> gift is beyond me. Rational would be to give cash.
>
> That being said, we humans are social and not rational beings, so
> exchanging a 50 dollar bill for a 50 dollar gift certificate does happen
> in the real world. Economically speaking (GST or VAT) there is NO value
> added in the transaction as I see it.
> So I see no reason for charging VAT. That would be just as foolish as
> charging VAT when I change my tenner in loose change for the vending
> machine. The VAT transaction is the vending machine, and there the sale
> is VAT included.
>
> Hopes this clarifies matters.

Actually yes that is a pretty good explanation/comparison. Thank you. Now I 
have to figure out how to track them. I will be able to see how much of the 
gift vouchers' value has been redeemed but how do I know which ones? I could 
search for the voucher number presented to my by the cutomer and then either 
re-post the original invoice with a note attached to it (no good) or I could 
create a new invoice with the same number as the voucher number for the goods 
purchased.
Actually could I sell vouchers as normal tax invoices (with GST) and then if 
they are redeemed create a new invoice with the same number and a negative 
amount to the value of the voucher? (plus anything extra) If they are not 
redeemed then I would simply keep them as sales.

>
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-- 
George
AUSTRALIA
http://www.okstudio.com.au