Lowering Litigation Risk: Recent Rulings and Case Law Affecting Property Taxes

By William Calokerinos

Synopsis

1.  Since the introduction of the GST in 2000, there has been a number of decisions by State Courts and Tribunals dealing with disputes as to the treatment of GST under
real estate contracts between parties to the contract and the Commissioner is not involved.

2.  The paper proposes practical strategies when advising clients relating to the issue of GST for real property. The strategies are important and the high probability of ATO scrutiny may be, by itself, sufficient reason to ensure compliance with the provisions of the relevant GST law, being the following:

a.  A New Tax System (Goods and Services Tax) Act 1999 (Cth) (“GST Act”)
b.  A New Tax System (Goods and Services Tax) Regulations 1999 (Cth) (“GST Regulations”)
c.  Taxation Administration Act 1953 (Cth).
d.  Acts Interpretation Act 1901 (Cth).
(“the relevant GST law”).

3.  The law stated is the current law in the state New South of Wales.

For the full paper, please see the pdf download below –

Lowering Litigation Risk: Recent Rulings and Case Law Affecting Property Taxes