GST Definitions

Acquisition	Acquisition is a very broad term. It includes the goods and services you buy for your congregation. It also includes obtaining advice or information, and leasing or hiring equipment.
Adjustment	An adjustment is a change you may need to make on your activity statement to increase or decrease your net GST amount payable or refundable for a tax period. The change my be needed to increase or decrease the: GST payable on supplies made because something has happened so that the amount of GST payable by you included on a previous activity statement is no longer correct, or Input tax credits for your acquisition because something has happened so that the amount of input tax credit you claimed on a previous activity statement is no longer correct.
Creditable acquisitions	You acquire things for a creditable purpose if you acquire them for use in your congregation (unless they are for use in making input taxed supplies). Things acquired solely for private use are not creditable acquisitions.
GST-free supplies	You do not charge GST on GST-free supplies, but you are entitled to input tax credits for the GST included in the price you paid for the things you acquired to use in your congregation.
Input taxed supplies	You do not charge GST on input taxed supplies, but neither are you entitled to input tax credits for the GST included in the price you paid for the things you acquired to make the supplies.
Input tax credit	You are entitled to an input tax credit for the GST included in the price you pay for an acquisition if it is for use in your congregation, but not to the extent that you use the acquisition to make input taxed supplies. You will need to have a tax invoice to claim an input tax credit (except for purchases with a GST-exclusive value of $50 or less).
Taxable supplies	This term is widely defined to include most supplies (goods, services and anything else) you make. A supply is not a taxable supply if it is GST-free or input taxed.