The further hearing of the Commissioner’s appeal against the Full Federal Court decision in MBI Properties Pty Ltd v FCT [2013] FCAFC 112 began on Tue 4.11.2014 before a Full Court of the High Court in Canberra. It is expected this will be the final day of the appeal. The Full Federal Court had overturned an earlier decision and unanimously held that the taxpayer that had purchased 3 residential apartments which were subject to leases, did not have an increasing adjustment within the meaning of Div 135 of the GST Act, as there was no continuing supply in terms of s 135-5(1).
[FJM Note: the High Court’s decision will be (has been) handed down on 3.12.14]
[LTN 213, 4/11/14]