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GST and adjustments: a GST horror! paper

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Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 04 May 06 by SOUTH AUSTRALIAN DIVISION, THE TAX INSTITUTE

This paper uses examples to indicate the issues in some common situations where an adjustment to the input tax credits and GST liability is required due to adjustment events including:

  • return and exchange of goods
  • insurance recoveries
  • changes to extent of creditable purpose
  • increasing adjustments for going concerns
  • selling the farm
  • buying some commercial residential property
  • claiming credits in the wrong entity.

Author profile

David KUHNE
David is a Director of KPMG and specialises in indirect tax advice including GST. He joined KPMG in 1994 following a 17 year career with the ATO. David provides advice to clients in relation to GST risk and has dealt with the ATO in GST risk reviews, sampling and audits. During this time he has been acquainted with many aspects of GST adjustments. David is a highly regarded presenter of technical papers to the accounting and taxation profession.
Current at 23 February 2006
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