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

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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a vendor on a deposit forfeited by the purchaser under a Victorian sale of land agreement where the agreement had been rescinded due to the purchaser’s breach.

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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 01 May 2008
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