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01 Mar 1212 GST: retirement village exit fees - GSTR 2012/D2

On 29 February 2012, the ATO released for public comment by 16 April 2012 draft GST Ruling GSTR 2012/D2 entitled "Goods and services tax: GST treatment of fees and charges payable on exit by residents of a retirement village operated on a leasehold or licence basis".

The draft Ruling explains the GST treatment of amounts (for convenience, exit payments ) which a resident becomes liable to pay the operator of a retirement village when the resident's interest in the village terminates. In this context, the resident's 'interest' is a right to possession of residential premises under a lease or licence.


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