Iain Blakeley

Barrister - Tax Expert - Business Adviser - Director, Professional, Practical, Fast, Affordable

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Governments using lotteries to collect tax

Tax collectors in the EU are looking more closely at the use of lotteries to tackle VAT evasion. This paper, just published, discusses how existing lottery schemes work and reveals there could be upside for governments. It concludes more empirical evidence is needed...

12 GST thoughts of Christmas

12 GST thoughts of Christmas: 1. There's no GST on gifts (so Santa is probably not GST registered). 2. GST registered businesses can claim back the GST on gifts they buy for staff, suppliers and customers. 3. If you buy someone a gift voucher for Christmas it's quite...

Certainty in construction

Planning ahead and attention to detail in contractual documentation are essential for retirement village operators wanting clarity of what GST costs they are up for. That was the key GST message at this week's Retirement Villages Association finance forum focussing on...

12 GST thoughts of Christmas

12 GST thoughts of Christmas: 1. There's no GST on gifts (so Santa is probably not GST registered). 2. GST registered businesses can claim back the GST on gifts they buy for staff, suppliers and customers. 3. If you buy someone a gift voucher for Christmas it's quite...

Commonsense prevails: well almost

Yesterday the Australian Tax Office issued a practice statement explaining when it would overlook an incorrect GST input claim made by a business. You can read it here On the face of it the practice statement reeks of commonsense. The supplier wrongly applies GST to...

Emissions units

Receiving emissions units can cost you. It's easy to assume GST doesn't apply to emissions units. The legislation has specific provisions which "zero rate" many supplies of emissions units so perhaps the natural presumption is, you don't have to worry about GST...

Late payment fees or penalties?

Yesterday's tax bill proposes a new provision saying "a fee charged for the late payment of an account" is treated as subject to GST. It will be back dated to 2003 to prevent the Government being inundated with refund claims. My issue is with the drafting. It applies...

Refunds

A lot of refunds are changing hands at the moment. All sorts of arrangements are being cancelled because of mother nature and today we read Contact and Telecom have discovered billing errors which will require refunds being paid to customers. A word of caution: if you...

‘Look everyone…… no hands!’

Ever heard anyone yell that out moments before their bike hits a bump in the road, gets a serious case of speed wobbles and finally careers into a solid object? A recent case from the Taxation Review Authority reminded me how a seemingly innocent transaction can end...