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09 Feb 09 Decision Impact Statement - PM Developments

The ATO has published a Decision Impact Statement in respect of the decision of the Federal Court in FCT v PM Developments Pty Ltd [2008] FCA 1886; 2008 ATC 20-078. The case concerned whether a liquidator is personally liable for GST on a taxable supply made in the course of the liquidation and the priority of GST incurred in the course of the liquidation. The Court held that the liquidator was not personally liable, contrary to the Commissioner's arguments.

Consequent upon the decision, the Assistant Treasurer, Chris Bowen, issued a press release "GST and Incapacitated Entities" on 6 February 2009 announcing that the GST Act would be amended to restore the original policy intent that representatives of incapacitated entities, including liquidators and receivers, be personally liable for GST on taxable supplies made in the course of the administration of the incapacitated entity's affairs. The press release indicates that the amendments, when enacted, will take effect from the commencement of the GST, that is, 1 July 2000.

The Decision Impact Statement sets out the Administrative Treatment of GST payable before Royal Assent to the changes is given.

For a copy of the Decision Impact Statement, go here.

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