The ATO’s newly released Practical Compliance Guideline PCG 2016/18 provides GST concessional treatment for certain B2B transactions where non-monetary consideration is provided. Labelled ‘countertrade’ transactions the concessions may prove helpful in a variety of situations, including for example, land transactions where only non-monetary consideration is provided such as agreed developer services.
This article considers a recent case in which a specific contractual mechanism governing application of GST had not been invoked in the manner contemplated by the contract.
It is reasonably common for consultants and contractors providing services to seek reimbursement for costs in addition to the charge for services. However, the GST treatment of such reimbursements depends on the arrangements entered into between the contractor and the Customer, and such arrangements may be shown in different ways on the tax invoice. This […]
This article looks at recent case that is a timely reminder about new residential premises and other GST property transaction issues.
Is the employer liable to pay GST on contributions that employees make towards other fringe benefits including for ‘exempt’ benefits?
Recent ATO comments highlight the need to consider whether a grant may cause an entity that is not registered for GST to be obliged to register. The need for registration has implications both for the entity receiving the grant and the entity paying the grant.