The Full Federal Court has dismissed a taxpayer’s appeal against an earlier AAT decision.
In AAT Case [2011] AATA 124, Re Cyonara Snowfox Pty Ltd and FCT:
- the AAT affirmed that an election to apply the margin scheme under Div 75 of the GST Act, for supplies made on or before 16 March 2005, could not be made after the date of the relevant supply; and
- the Tribunal also affirmed that the taxpayer was not entitled to the going concern concessions under Subdiv 38-J of the GST Act, in relation to the sale of a leasing property.
The Full Federal Court found the Tribunal had not erred in its approach to the construction of s 75-5. It also dismissed the taxpayer’s appeal in relation to the issues concerning the taxpayer’s claim of a GST-free supply of a “going concern”.
(Cyonara Snowfox Pty Ltd v FCT [2012] FCAFC 177, Full Federal Court, Greenwood, Collier & Middleton JJ, 4 December 2012.)
[LTN 238, 7/12]
Catchwords
TAXATION – consideration of the construction to be attributed to ss 75-5 and 75-10 (as those provisions stood in relation to taxable supplies made up to 16 March 2005) for the purposes of A New Tax System (Goods and Services Tax) Act 1999(Cth) (the “GST Act”) – consideration of the time for making a choice under s 75-5 of the GST Act – consideration of the going concern elements of s 38-325 of the GST Act – consideration of the statutory scheme under the GST Act – consideration of whether the taxpayer had discharged the onus of demonstrating on the facts that a GST-free supply under subdivision 38-J of the GST Act had been made out – consideration of ss 105-50(1) and 105-50(3)(a) of Schedule 1 of the Taxation Administration Act 1953 (Cth)