SEARCH RESULTS

Search

Filter

Type







Category











Year












29 Mar 2019 | Riposte | GST

Repeal of GST Regulations 1999

The 1999 GST Regulations are being repealed on 1 April 2019. A New Tax System (Goods and Services Tax) Regulations 2019 were registered on 26 March 2019 to take effect from 1 April 2019. The 2019 Regulations ‘remake and improve the operation’ of the GST Regulations without- it is intended- changing their basic operation or introducing policy change. But there are changes.

02 Jul 2018 | Riposte | Real Estate | GST

Happy New (Financial) Year! Welcome to GST Withholding...

The GST Withholding regime commenced on 1 July 2018, so purchasers exchanging from now on will be required to withhold an amount for GST when they acquire most new residential premises and potential residential land. Due to the transitional provisions, GST withholding will not apply where the contract was entered into prior to this date and the first payment (other than any consideration paid as a deposit) is provided before 1 July 2020.

07 Feb 2018 | Riposte | GST

Purchaser GST withholding - the final cut

On 7 February 2018 the Government introduced legislation for the GST withholding measure on sales of new residential premises and potential residential land. Due to successful lobbying, there are quite a few beneficial changes in the bill compared to the Exposure Draft released in November. However the measure is still due to take effect from 1 July 2018… not leaving a lot of time to change systems and contracts.

09 Nov 2017 | Riposte | Real Estate | GST

Purchaser withholding on new homes

Draft legislation to combat phoenixing on new homes has been released, putting the onus on purchasers to withhold and pay to the ATO 1/11th of the price of their new home.

19 Jan 2017 | Riposte | GST | Real Estate

The meaning of 'GST' in property transactions

The McEwans case held that 'GST' can have different meanings in a contract. As a result of imprecise language, both parties to a sale of land subject to the margin scheme were left worse off.

18 Nov 2016 | Riposte | GST

PCG makes GST barter transactions simpler

The ATO issued a Practical Compliance Guideline on the GST treatment of barter transactions which should eliminate pesky compliance issues for many taxpayers.

17 Nov 2016 | Riposte | Real Estate | GST

GST in property transactions: who bears the risk?

How important is it to get the details right in the particulars of a contract of sale? A recent case involving a GST clause in a real estate contract demonstrates how one word can be determinative of a tax liability.

26 May 2016 | Riposte | GST

GST treatment of digital currency likely to change

Since the Australian government’s policy announcement concerning the GST treatment of digital currency in March 2016, it was clear that the tax treatment of digital currencies was likely to change, the question however, is how.

01 Sep 2015 | Riposte | GST

GST - direct and indirect objectives

When a taxpayer spends money the tax question is usually, what did it get for its money? Often the answer is obvious, but sometimes taxpayers want to argue that the law should look beyond the obvious. The Full Federal Court’s decision in Rio Tinto raises this dilemma in a GST context.

01 Sep 2015 | Riposte | GST | Private Equity

Bitcoin: GST changes looming

An Australian Senate Committee Report slates a major shake-up of the tax treatment of digital currency including a reversal of the ATO view that it is subject to GST.

14 Aug 2015 | Riposte | GST

Part IVA – revisions to ATO Practice Statement

The ATO has released draft revisions to its 2005 Practice Statement on Part IVA for significant taxpayer-favourable case law developments and analysis of the “new” Part IVA enacted 2 years ago.

03 Dec 2014 | Riposte | Real Estate | GST

High Court rules on GST on property leases

The High Court delivered a welcome judgment for commercial property landlords as it concerns the GST treatment of leasing.

22 Feb 2008 | Tax Briefs | GST

Brady King First ever GST margin sheme valuation case.pdf

On 18 February 2008, the Federal Court of Australia released the decision of Brady King Pty Ltd v Commissioner of Taxation [2008] FCA 81 relating to a taxpayer’s entitlement to adopt the “valuation method” under the margin scheme. This Tax Brief considers the importance of this case in particular, its relevance to property developers as it concerns the margin scheme provisions.

Brady King First ever GST margin sheme valuation case.pdf (180 kb)

23 Mar 2010 | Tax Briefs | GST

Indirect Tax Sharing Agreements

From 1 July 2010, indirect tax sharing agreements (ITSAs) will become part of the GST landscape. Under the proposed measures, GST group members and participants in an approved GST joint venture can limit their indirect tax liability by entering into an ITSA with the representative member / joint venture operator similar to the effect that tax sharing agreements (TSAs) have for consolidated groups under Division 721 of the Income Tax Assessment Act 1997.

Indirect Tax Sharing Agreements (38 kb)

26 Mar 2009 | Tax Briefs | Energy & Resources | GST

Tax Issues Arising from the CPRS

The Government released exposure draft legislation for its proposed Carbon Pollution Reduction Scheme (CPRS). This Tax Brief sets out the main tax issues that businesses will need to grasp arising from a CPRS.

Tax Issues Arising from the CPRS (46 kb)

26 May 2008 | Tax Briefs | GST

First High Court GST Case - Forfeited Deposits Taxable but Little Broader Guidance

The first GST case that has been decided by the High Court of Australia. In Commissioner of Taxation v Reliance Carpet Co Pty Limited, the Court found for the Commissioner that GST was payable where a deposit held by a vendor for the sale of commercial property was forfeited.

First High Court GST Case - Forfeited Deposits Taxable but Little Broader Guidance (31 kb)

13 Oct 2005 | Tax Briefs | GST

GST & Property Update

This tax brief provides an update on cases, legislative change and new or revised rulings in the GST and property context between March and October 2005

GST & Property Update (207 kb)

01 Aug 2005 | Tax Briefs | GST

No recovery of input tax credits for trust

This Tax Brief considers the Full Federal Court decision in HP Mercantile Pty Ltd v Commissioner of Taxation regarding the core GST concept of whether an acquisition is made for a “creditable purpose” such that the taxpayer is entitled to claim an input tax credit.

No recovery of input tax credits for trust (124 kb)

05 May 2005 | Tax Briefs | GST

Taxman in the Middle of Packer/Stokes GST Standoff

This Tax Brief considers the Full Federal Court’s decision in ACP Publishing Pty Ltd v FCT [2004] FCA 874 that a pre-8 July 1999 deed was GST-free under the GST grandfathering rules even though the price was determined after 1 July 2000.

Taxman in the Middle of Packer/Stokes GST Standoff (198 kb)

18 Mar 2005 | Tax Briefs | GST

New GST Bill Targeting The Property Industry May Injure Innocent Bystanders

This Tax Brief amendments to the GST margin scheme rules for property under a GST-free transaction as well as the interaction with the margin scheme of the GST grouping and GST joint venture arrangement rules.

New GST Bill Targeting The Property Industry May Injure Innocent Bystanders (174 kb)

29 Jan 2005 | Tax Briefs | GST

Recovering Input Tax Under the GST Act

This Tax Brief discusses the Recoveries Trust v Commissioner of Taxation decision which examines one of the key concepts in the GST legislation, namely that of whether an acquisition is made for a “creditable purpose” pursuant to section 11-15 such that an input tax credit can be claimed.

Recovering Input Tax Under the GST Act (135 kb)

06 Jan 2005 | Tax Briefs | GST

No room at the Inn

This Tax Brief considers the decision of the Full Federal Court in Marana Holdings Pty Ltd v Commissioner of Taxation. The decision provides guidance on the definition of ‘residential premises’ and ‘commercial residential premises’ for the purposes of the GST Act.

No room at the Inn (202 kb)

03 Nov 2004 | Tax Briefs | GST

Transitionally GST-Free Contracts - 1 July 2005 Legislative Fix

Transitional treatment for certain GST-free contracts ended on 1 July 2005. This Tax Brief considers the amending legislation that enabled suppliers to pass on GST liabilities on these contracts.

Transitionally GST-Free Contracts - 1 July 2005 Legislative Fix (198 kb)

02 Aug 2004 | Tax Briefs | GST

GST Transition Surprise for Packer

This Tax Brief considers the Federal Court decision in ACP Publishing Pty Ltd v Commissioner of Taxation which held that sale of a 50% interest in a business pursuant to a “Savoy Clause” in an agreement executed in 1980 was GST-free even though it allowed the parties to determine the price for a supply after 1 July 2000.

GST Transition Surprise for Packer (250 kb)

07 Jun 2004 | Tax Briefs | GST

GST-Free Supplies of Services to Non Residents - Court Supports Commissioner's Draft Ruling

This tax brief considers when a foreign company is ‘in Australia’ and therefore whether GST should be charged on invoices for supplies made to it.

GST-Free Supplies of Services to Non Residents - Court Supports Commissioner's Draft Ruling (252 kb)