GST, CGT and stamp duty paper

Published on 12 Mar 09 by NATIONAL DIVISION, THE TAX INSTITUTE

This paper covers:

• the creation and exercise of rights including:
  
  • timing and attribution rules
  • the impact of contingencies upon the characterisation of the transaction and the quantification of consideration
  • the distinction between consideration for the creation of the right and the exercise of the right
  • the potential for multiple taxation and the need for statutory relief or precise attribution of consideration.

• the termination or extinguishment of rights including:
  • forfeiture of deposits: the High Court in Reliance Carpets and the Federal Court in Brooks
  • performance of contracts and the High Court in Orica
  • surrenders, releases and the operation of law.

• earnouts including:
  
  • long-term leases, subdivision and issues arising from the interaction of the different taxes.

Author profile

Peter Green

Peter Green FTIA is a Partner at the Sydney office of Mallesons Stephen Jaques. Peter specialises in revenue law, including income tax, capital gains tax, stamp duty Australia-wide and GST. Peter is the joint author of the third edition of Principles of Income Taxation. - Current at 17 September 2015

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• GST and income tax paper - 05-September-2008

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