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
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.
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
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
All materials provided on this site are protected by copyright and are owned by or licensed to TTI.
Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.