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Tax Case: GST transition surprise for Packer

Published on 01 Sep 04 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The Federal Court in ACP Publishing Pty Ltd v Commissioner of Taxation [2004] FCA 874 has held that the sale of a 50 per cent interest in a magazine business pursuant to a 'Savoy Clause' in an agreement executed in 1980 was GST-free under s 13 of the A New Tax System (Goods and Service Tax Transition Act) 1999 even though it allowed the parties to determine the price for a supply after 1 July 2000.

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Rohan MURUGASU

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