Iain Blakeley

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

vendor financing

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,...