GST may apply to forfeited deposits.
11 Nov 08 |
AUSTRALIAN LAW JOURNAL
Issue: November 2008
- does a vendor make a "supply" in consideration of a forfeited deposit?
- is the deposit consideration for the supplies made on exchange?
- does GST apply to all forfeited deposits?
- will GST apply where the underlying sale is GST-free or input taxed?
- what is the expected impact on vendors?
- what are the implications for margin scheme sales?
- what can a vendor do to ensure that it continues to receive the full 10% value of a forfeited deposit?
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