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Turning old into new

Publication date: 01 Aug 01 | Source: AUSTRALIAN GST JOURNAL

Issue: Vol 1, issue 4

Pages: pp.66-70

Abstract:
This article examines the situation in which a purchaser, purchased an older house believing that GST would not be included in the sale price. Unknown to the purchaser, the house had been rented by the previous owner to a tenant who used the house for commercial office accommodation and was required to register for GST. The purchaser sought a private ruling. This article examines the content of the ruling by reference to the reasoning which now appears as a draft GST ruling.

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Author profile

Lachlan Wolfers CTA
Lachlan is the leader of KPMG’s Indirect Tax practice in China and a member of KPMG’s Global Indirect Taxes leadership team. He was formerly a director of The Tax Institute, and leader of KPMG’s Indirect Taxes and Tax Controversy practices in Australia prior to his relocation to China in 2011. In his current role, Lachlan is assisting multinational companies transition to VAT in China. He is a frequent presenter and media commentator on VAT issues in China, and is currently advising China’s Ministry of Finance and State Administration of Taxation on several tax reforms, including VAT and Advance Rulings. - Current at 27 August 2012
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