Published on 01 Aug 05
by "THE TAX SPECIALIST" JOURNAL ARTICLE
Two recent Federal Court decisions have failed to resolve some lingering uncertainties about the operation of the transitional rule governing the impact of the Goods and Services Tax on long-term contracts. The divergent views and unresolved issues arising in these decisions make this area a minefield for practitioners advising in relation to, or drafting, long term agreements including leases.
C J Bevan examines the implications of the decisions and provides a list of seven lessons that practitioners may take from them.
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