Source: Taxation In Australia Journal Article
Published Date: 1 Aug 2017
For the purposes of the goods and services tax, a transaction which would be regarded, in a practical business sense, as a single supply of goods or services may be comprised of several components, some of which are taxable and some not. ollowing a commercial approach, Australian courts have resolved the questions of identification and characterisation of supply by examining a transaction/supply from a business and commonsense perspective, paying due deference to the legal realities. Where the supply has separately identifiable parts and none are integral, ancillary or incidental, an apportionment exercise will be necessary between the taxable and non-taxable parts of the supply. As with Luxottica, an apportionment will be necessary where there is a single supply but one or more parts are taxable, while others are non-taxable. It is likely that the appropriate method of apportionment will be one that is reasonable and supportable in the particular circumstances, having regard to the commercial and legal context in which the transaction occurs.
More by Rashelle Seiden
What use is a private ruling? - Journal 01 Sep 2018
The Harman undertaking and tax litigation - Journal 01 Oct 2017
Freezing orders and garnishee notices - Journal 01 Jun 2013
Garnishees and freezing orders - Paper 16 May 2013
Garnishees and freezing orders - Presentation 16 May 2013
Rights and remedies of a taxpayer in the sights of the Commissioner of Taxation: Part 2 - Journal 01 Oct 2010
Rights and remedies of a taxpayer in the sights of the Commissioner of Taxation: Part 1 - Journal 01 Sep 2010
Amending trust deeds, resettlements, splitting and cloning trusts: A discussion - Paper 19 Nov 2009
Amending trust deeds, resettlements, splitting and cloning trusts - Presentation 19 Nov 2009
Sorry, this is subscriber only content.
To gain access to this material and much more - Subscribe Now.
(Note: Members can access Taxation in Australia journal articles without a Tax Knowledge Exchange subscription - please log in to access).
Already a Subscriber? Login now
Details
The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.
Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.
The Tax Institute
(ABN 45 008 392 372 (PRV14016))
("TTI")
The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009.
All materials provided on this site are protected by copyright and are owned by or licensed to TTI.
Except as expressly permitted by TTI or the copyright owner, any person or company who uses this site must not use, reproduce, redistribute, retransmit, publish or otherwise transfer, or commercially exploit, the materials or any information, software or other content, in whole or in part, which is available through this site.
Tags