Iain Blakeley

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

consideration

GST refund claims: keep it real.

You can't claim GST back on an expense unless you actually receive whatever it is you are paying for. That's the message from the Australian Federal Court in a decision released on 1 November [Professional Admin Service Centres Pty Ltd v FC of T]. In that case the...

GST and vendor financing

A follow on from my re-blogged post below on vendor financing and the GST impact.The Australian Tax Office has issued a "Decision Impact Statement" on the Mathiesen case confirming it is consistent with earlier rulings they gave. The key points are:1. For GST purposes...

Vendor financing

Useful recent Australian tax case on GST and vendor loans. Mathiesen Family Trust v FC of T [2013] ATC 10-327, 15 July 2013. The taxpayer agreed to sell land for $3.5m. The purchaser could only pay $2m on settlement and borrowed the balance of $1.5m from the vendor,...