Compensation for loss: Settlement arrangements, court orders and warranty claims paper

Published on 06 Sep 12 by NATIONAL DIVISION, THE TAX INSTITUTE

Most businesses will be exposed in some way to issues concerning compensation for loss, whether through insurance or damages or warranty claims. Natural disasters in recent times have brought insurance issues into particular focus.

This paper covers:

• basic concepts
  • taxable supply
  • supply
  • consideration
• compensation for loss
  • statute
  • contract
  • voluntary payments
• settlement arrangements
  • the ATO’s view - GSTR 2001/4
  • GST clauses
• court or tribunal orders
  • making of an order
  • quantum meruit
  • court order amended for GST
• apportionment
• costs
• cnterest (pre and post judgement)
• waiver of the requirement to hold a tax invoice / adjustment note
• settlement arrangement tips
• warranty
  • background
  • ATO's View – GSTD 2006/1 and GSTD 2006/2
  • cases
  • analysis
  • proposed amendments to GST-free treatment of warranties
  • breach of warranty.

Author profiles

Geoff MANN

Geoff is a Partner at Blake Dawson Waldron. His practice covers most areas of indirect tax law. Geoff’s broad practice enables him to consult in relation to overall tax management strategies and review programs as well as due diligence exercises. Geoff has practised in stamp duty for over 18 years, advising on a wide range of transactions and issues across all states and territories duties legislation. Geoff’s multi skilling across tax areas, his dual legal and accounting qualifications, as well as his practical exposure to legal drafting put him in a unique position to address the issues arising in his areas of practise.
Current at 25 September 2007

More by Geoff MANN

• Taxation of not-for-profits and charities paper - 02-December-2021
• The terms and nature of disclosure obligations paper - 03-November-2021
• Dear practitioner paper - 28-July-2015
• Stamp duty - Hot topics arising from the introduction of the Victorian landholders duty regime paper - 31-October-2013
• Corrections and adjustments under the self-assessment regime paper - 05-September-2013
• Current and upcoming issues in GST for your business paper - 14-March-2012
• Cases update paper - 09-September-2010
• Miscellaneous duties issues paper - 29-July-2010
• GST Today – Cases update, legislative update & rulings update paper - 09-October-2009
• GST cases and rulings update paper - 25-October-2007
• Interaction of GST with other taxes paper - 03-November-2006
• Land tax - current issues paper (by Geoff Mann and others) - 29-July-2005
• GST: real property, real issues: Part 5 - Going concerns & operational issues - 01-June-2005
• GST: Real property, real issues: Part IV - 01-May-2005
• GST: real property, real issues: Part III - Security needed on security deposits - 01-April-2005
• GST: real property, real issues: Part II GST's disservice to serviced apartments - 01-March-2005
• GST - real property, real issues: Part I When is a review a review? - 01-February-2005
• Still Real Issues in Real Property seminar paper - 11-October-2003
• Property - 17-October-2002
• Expenditure on the development and acquisition of IP - 18-June-2002
• Expenditure on the development and acquisition of IP - 21-February-2002
• GST Audits - 19-June-2001
• GST, FBT and salary packaging - 29-February-2000
• Indirect tax issues for privatisation - 20-March-1997

Click here to expand/collapse more articles by Geoff MANN.

Nika Dharmadasa

Nika is a Senior Associate as Ashurst.

More by Nika Dharmadasa

• Stamp duty - Hot topics arising from the introduction of the Victorian landholders duty regime paper - 31-October-2013

Click here to expand/collapse more articles by Nika Dharmadasa.