When you are dealing with tripartite arrangements, you need to ensure that all supplies and acquisitions are clearly identified and that the consideration goes where it’s supposed to. This case proved a very costly lesson for PASC and potentially Mr Felson, with more than $250,000 in input tax credits at risk.
GST Q&A – using credit card statements for claiming ITCs
The recent decision of the Victorian Supreme Court in Cityrose Trading Pty Ltd v Booth highlights the need for suppliers to exercise vigilance in relation to all transaction documents – in particular ensuring adequately drafted pricing provisions and GST clauses.
On 30 October 2013, the ATO released draft GST Ruling GSTR 2013/D2 entitled “Goods and services tax: supplies made by an operator of a ‘moveable home estate’”.
Council will be buying a residential property from private residents, who currently live in the house. Initial thoughts are that this transaction would be input taxed. With regard to section 40-65 of the GST Act we are now not so sure.
With opinion polls suggesting a decisive victory for the Coalition this weekend, an obvious question is how the Coalition would treat issues like t…