National Debtor Finance

Do NDF clients have to pay the GST?

Yes. They have to pay GST in the price of goods and services they acquire in the normal course of running their business. For further information on when they have to pay GST, they should contact their accountant or the ATO.

When invoices are presented for discounting after 1 July 2000, do they need to indicate the amount of GST included?

Yes. All invoices issued that relate to GST taxable supplies produced after introduction of GST on 1 July 2000 should comply with the "Tax Invoice" format requirements in the GST law.

Click here for more information on a tax invoice.

When invoices are presented for discounting after 1 July 2000, is the GST discounted as well?

Yes. The full amount of the invoice, including the GST component, is discounted.

Do businesses still have to remit GST to the ATO if NAB discounts the invoices?

Yes. NAB is only discounting the invoice and providing working capital. NAB is not liable for the collection of the debt or the remittance of GST to the ATO.

Do businesses have to pay GST on purchase charges when invoices are discounted?

No. NAB's debtor finance product is "input taxed" which means that the price charged by NAB for the supply of its debtor finance products and services does not include GST.

Do businesses have to pay GST on their facility fees?

No. Facility fees are "input taxed" which means that the price charged by NAB for the supply of its debtor finance products and services does not include GST.