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Are late fees “revenue” for GST?

Taxation in Australia | 1 Nov 10
 
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Published on 01 Nov 10 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

This article briefly examines the decision of the Full Federal Court in C of T v American Express International Inc and the potential GST implications of the decision for taxpayers that are required to apportion input tax credits and/or receive late payment fees and charges on overdue accounts.

Author profile

James Choi
James is an Associate Partner with EY’s Tax practice, James has extensive experience advising on all indirect tax matters. He resolves GST issues arising in the Government and private sectors with a particular focus on property transactions,mergers and acquisitions, asset finance, cross border arrangements and general business operations. Specialties: Indirect tax, GST, Government, property, mergers and acquisitions, asset finance, cross border arrangements. - Current at 30 September 2019
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