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20 Feb 12 Decision Impact Statement - Naidu Family Trust

The ATO has issued a Decision Impact Statement in relation to the decision of the AAT in The Trustee for the Naidu Family Trust and FCT [2011] AATA 910; 2011 ATC 10-227.  The case concerned whether the taxpayer was liable to GST on a supply of property as mortgagee in possession.

The ATO states that the AAT's decision that the taxpayer was liable to pay GST on the supply of property is in accordance with the Commissioner's view of the operation of s 105-5 of the GST Act. The AAT finding that the supply of property took place at settlement, that is, at the time the transfer was executed, is consistent with the Commissioner's submissions to the AAT.


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