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GST liquidated damages and break fees


Payments of liquidated damages fall outside the GST. Is that ipso facto and, if so, why? And does the same explanation cut it for break fees?

Author profiles:

Author Photo - Craig Milner CTA
Craig Milner CTA
Craig is a Tax Partner with Corrs Chambers Westgarth. He advises ASX and public company clients on a variety of tax issues, including managing, reviewing, assessing and advising on input tax credit entitlements in large scale merger and acquisition activity, demergers, IPOs, capital raisings, corporate restructures and property, infrastructure and finance transactions projects. Current at 01 June 2011 Click here to expand/collapse more articles by Craig MILNER.
Paul Stacey
Paul is a Special Counsel at Corrs Chambers Westgarth and is a GST specialist whose practice involves advising major Australian companies on the GST implications of substantial transactions, including those in the property sector. He has worked as a taxation expert for almost 20 years, including nearly a decade in London. Paul is both a lawyer and a chartered accountant. He has also written extensively on GST matters and his views have been published both here in Australia and in Europe Current at 28 May 2008 Click here to expand/collapse more articles by Paul STACEY.
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