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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 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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