Miscellaneous 2005

GST on long-term non-reviewable contracts - unresolved transitional problems

Source: The Tax Specialist Journal Article

Published Date: 1 Aug 2005


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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Miscellaneous 2005

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