The High Court has dismissed the taxpayer’s application for special leave to appeal against the decision of the Full Federal Court in Cyonara Snowfox Pty Ltd v FCT [2012] FCAFC 177. The Full Federal Court had dismissed the taxpayer’s appeal against an earlier AAT decision, which had affirmed a GST assessment under the margin scheme for particular periods in connection with property transactions concerning the taxpayer’s sale of allotments of land.
[LTN 7/6/13]
[2012] FCAFC 177 – 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)