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Bad old days of sales tax are revisited in a GST context.

Publication date: 01 Apr 06 | Source: INTAX

Issue: April 2006

Pages: pp. 10-11

Under the old sales tax legislation, a number of the exemption items applied where goods were "for use in" a particular activity or thing. The obvious difficuty with interpreting an exemption item by reference to another party's intended use is one of information asymmetry. While the old slaes tax legislation had some mechanisms to overcome the difficulties, the GST law does not.

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Author profiles

Lachlan Wolfers CTA
Lachlan is the Global Head of Indirect Tax for KPMG, as well as leading the Indirect Tax and Tax Technology practices for KPMG China. As part of his role in KPMG China, Lachlan led KPMG China’s efforts in relation to the VAT reform pilot program in China, including providing advice to various Government agencies in relation to several key aspects of the VAT reforms, including the application of VAT to financial services, insurance, construction and real estate, transfers of a business, as well as other reforms relating to the introduction of Advance Rulings in China. Previously he was a partner of KPMG Australia for over 11 years as the head of Indirect Tax in Sydney, and the National head of Tax Controversy services for KPMG Tax Lawyers Pty Ltd. Lachlan is also formerly a Director of the Tax Institute. - Current at 30 September 2019
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