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Aquisition supplies paper


The concept of “acquisition supplies” was a deliberate inclusion in the GST Regulations, but did anyone really understand the far-reaching consequences this apparent oxymoron would have on the interpretation and administration of GST? Long the subject of questions over their very validity, have they now escaped to wreak havoc in a way never intended? This paper explores the rationale for the inclusion of the concept within the GST Regulations, the impact of recent cases on their practical consequences and possible problems for the future. This paper focuses, in particular on:

  • a world without acquisition supplies?
  • the original intent of including acquisition supplies
  • current implications – Travelex and the Commissioner’s views on acquisition supplies.

Author profiles:

Brad Miller CTA
Brad is a Partner in EY’S Indirect Tax team in Melbourne, advising on a range of indirect taxes including GST. While Brad assists clients in different industries, he focuses on clients in the financial services sector (including superannuation) by providing clear and concise value propositions to clients on very technical aspects of the GST legislation. Brad also assists clients from an indirect tax perspective on due diligence; structuring for acquisitions; divestment, developing and documenting GST apportionment methodologies; and managing ATO audits and disputes. Brad is an active member of a number of indirect tax committees for different industry associations, regularly advocating on behalf of those associations before both the ATO and Treasury. Current at 30 September 2015 Click here to expand/collapse more articles by Brad MILLER.
Andrew Sommer CTA
Andrew Sommer, CTA, is the national practice group leader for tax at Clayton Utz and has been working in tax for over 20 years. Andrew specialises in GST, providing advice across all industry sectors and levels of government as well advising on other tax issues, including land tax, payroll tax, FBT and state-based royalty regimes. Andrew has also acted for clients in relation to various litigious tax matters at all levels of review including the High Court. Andrew lectures in GST for the University of Sydney as part of the Master of Laws program and has previously taught GST subjects for the University of New South Wales. Andrew serves on the Indirect Tax Public Rulings Panel and The Tax Institute’s Education Quality Assurance Board, is a member of the editorial bvard of the Australian Tax Law Bulletin, the indirect tax editor of the Australian Journal of Banking and Finance Law and Practice and is a co-author of the book, Tax and Insolvency. Current at 21 October 2016 Click here to expand/collapse more articles by Andrew SOMMER.

This was presented at 2012 National GST Intensive.

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