Monday, January 12th, 2009
Cityrose Trading Pty Ltd v Booth & Anor [2008]
Victorian Supreme Court, Commercial & Equity Division
In 2006, Noel Booth bought a property in Victoria from Cityrose Trading Pty Ltd. The contract contained a special condition referring to GST but it did not stipulate whether GST was payable on the sale. Just before settlement, Cityrose advised Mr [...]
Monday, January 12th, 2009
Commissioner of Taxation v Reliance Carpet Co Pty Ltd
A commercial property was sold for almost $3 million in 1992, and contracts were exchanged with a deposit of 10 per cent. Both vendor and purchaser were registered for GST.
The purchaser did not complete the transaction and the deposit of $297,000 was forfeited to the vendor. The [...]
Thursday, August 21st, 2008
Prime Minister Kevin Rudd has suggested a “root and branch” review of the tax system. However, the GST rate will not change. By world standards, Australia’s GST rate is modest.
There is nothing new, again by world standards, in politicians suggesting tax system reviews. See David Martin’s work on Tax Simplification elsewhere on this website and my summary [...]
