Document background
The Commercial Invoice Gift is a specialized document used in Australian business contexts when one party wishes to formally gift goods or services to another while maintaining proper commercial documentation. This document type is particularly important for compliance with Australian tax law, including the A New Tax System (Goods and Services Tax) Act 1999 and the Income Tax Assessment Act 1997. It serves multiple purposes: documenting the gift transfer, establishing the gift's value for tax purposes, providing a clear audit trail, and ensuring proper accounting records. The document is commonly used for corporate gifts, charitable donations, internal company transfers, and situations where formal documentation of a gift is required for tax or accounting purposes. The Commercial Invoice Gift includes all standard commercial invoice elements while clearly establishing the transaction's gift nature, making it particularly useful for businesses needing to maintain detailed records of gift transactions.
