The ATO on Mon 17.9.2012, issued the following Decision Impact Statements:
- – In those cases, the AAT affirmed the Commissioner’s objection decisions disallowing the taxpayer’s objections to private rulings denying GST input tax credit (ITC) claims for second-hand aircraft acquired before 1 July 2000. Broadly, the ATO said in its that AAT Case [2012] AATA 407; AAT Case [2012] AATA 408Decision Impact Statementit agreed with the Tribunal’s conclusion that various factors in the cases demonstrated that the entity had not acquired second-hand goods for a purpose of sale or exchange in the ordinary course of business. Further, it said the ATO will consider revising GST Ruling GSTR 2005/3 (Arrangements of the kind described in Taxpayer Alert TA 2004/9 – exploitation of second-hand goods provisions to obtain input tax credits) to ensure the circumstances in which entitlement to input tax credits for second-hand goods are clearly articulated.
[LTN 180, 17/9]