IECL is required by law to collect goods and services tax under certain conditions for services purchased from us.
Persons / Companies in Australia
Goods and services tax (GST) is a broad-based tax of 10% on most goods, services and other items sold or consumed in Australia. If your billing/shipping address is in Australia and you are purchasing services from our Australian business (GrowthOps IECL Pty Ltd) 10% GST is applicable.
Persons / Companies in New Zealand
Goods and services tax (GST) is New Zealand's consumption tax. It is usually charged at a rate of 15%. If your billing/shipping address is in New Zealand and you are purchasing services from our Australian business (GrowthOps IECL Pty Ltd) 15% GST is applicable.
Persons / Companies in Singapore
Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. If your billing/shipping address is in Singapore and you are purchasing services from our Singapore business (IECL SG Pte Ltd) 8% GST is applicable.
Change in GST rate in Singapore
Take note that the GST rate is increased from 8% to 9% ("new tax rate") with effect from 1 January 2024.
In the event an invoice has been issued to the client at the rate of 8% GST before 1 Jan 2024 and the payment is to be made after 1 Jan 2024 by the client for services to be delivered or performed after 1 Jan 2024, we will issue a credit note to cancel such invoice and issue a new invoice which will reflect the new tax rate. Kindly note that this GST adjustment by way of credit note is made pursuant to guidelines published by the Inland Revenue Authority of Singapore.
Where invoice has been issued to the client and payment received from client before 1 Jan 2024, the prevailing GST rate of 8% GST will sustain even where the services are performed after 1 Jan 2024.
For avoidance of doubt, take note that:
a) where an invoice has been issued for services that spans from before Dec 2023 and after 1 Jan 2024 at the rate of 8% GST, the client is encouraged to make full payment for such invoice before 1 Jan 2024. Should we not receive the full payment for such invoice before 1 Jan 2024, we are required to issue a credit note for the remaining payment to be made, or the remaining services to be performed, on/ after 1 Jan 2024 and issue a prorated invoice subject to new tax rate accordingly,
b) where the services are fully delivered or performed before 1 Jan 2024, the client is encouraged to make payment for such services before 1 Jan 2024, however pursuant to the transitional rules, invoices for such services will be subject to 8% GST.
