Daily Archives: June 8, 2020

GST withholding obligations, for purchasers of certain land – 30 June 2020 deadline for grandfathering of supplies under pre-1 July 2018 that haven’t settled by then

GST withholding obligations (by purchasers) have applied to the supply of certain land, since 1 July 2018, but pre-1 July 2018 contracts could now come within the net, as part of the transitional rules (‘grandfathering’ provisions) expires on 30 June 2020. On 4 June 2020, the Law Institute of Victoria warned their members, about this…

Cash World Gold Buyers Pty Ltd v CofT – Taxpayer’s claim for input tax credits on supposedly ‘scrap gold’ rejected (all sorts of issues and problems)

The AAT has disallowed claims for input tax credits relating to the alleged purchase of gold as the claimant failed to discharge its onus of proof by demonstrating that the assessments issued to it were excessive or otherwise incorrect. See below for more details. [Tax Month – June 2020]