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GST in an uncertain economy paper

Published on 06 Nov 08

GST consequences of managing rights, obligations and debts. This paper explores the GST issues that may be encountered in this environment including:

  • cancelled debts and bad debts
  • making guarantee payments
  • debt to equity swaps
  • litigation - court orders and out of court settlements
  • re-organising contractual obligations for consideration
  • terminating contracts - cancellation fees, liquidated damages and forfeited deposits
  • input tax credits for acquisitions relating to ceased activities.

Author profile

Ross Stitt
Ross is a Lawyer and Accountant with over 10 years' GST experience in Australia and New Zealand. He joined Allens Arthur Robinson's tax practice in early 2000 and has advised clients on a wide range of GST issues. He is currently a Partner and specialises in the most complex aspects of the GST regime including the implications of cross-border transactions and issues in the financial services sector. Prior to joining Allens, Ross was the head of tax in the Auckland office of leading New Zealand law firm Chapman Tripp. Before that he was a tax partner with Arthur Andersen. - Current at 01 August 2009
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This was presented at Tax in an Uncertain Economy .

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The perspective of the appointed representative

Author(s):  Barry KOGAN

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