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Tax cases: Court questions what is a “supply” – forfeited deposits

Published on 01 Aug 07 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

In 2006 the Administrative Appeals Tribunal found in Reliance Carpet Co Pty Ltd v Commissioner of Taxation, that GST was payable by a vendor on a deposit forfeited by the purchaser under a Victorian sale of land agreement where the agreement had been rescinded due to the purchaser’s breach.

Author profile:

Keith HARVEY
Keith, a Principal of Ambry Legal, specialises in tax advice principally in GST and Consolidation. He has presented a number of seminars for the Tax Institute on GST and written several GST articles for Taxation in Australia.
Current at May 2008 Current at 07 May 2008 Click here to expand/collapse more articles by Keith HARVEY.
 

 

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