Abi Chellapen
Articles by this Author
GST AND SUPPLIES OF ‘NEW’ RESIDENTIAL PREMISES – CONSULTATION PAPER RELEASED
- By Abi Chellapen
- Published 1/02/2011
- Moore Property News
- Unrated
The Government has released a consultation paper aimed at clarifying the
GST treatment of supplies of new residential premises. The paper is
partly a response to the Commissioner’s failed appeal in Commissioner of
Taxation v Gloxinia Investments [2010] FCAFC 46, where the Full Federal
Court held that developers supplying residential premises to the public
were not subject to GST where the residential premises were previously
subject to a development lease arrangement. The Government is seeking
to ensure that such supplies are subject to GST.
Consultation paper released on tax breaks for Green Buildings
- By Abi Chellapen
- Published 28/01/2011
- Moore Property News
- Unrated
On 20 January 2011, the Government released a consultation paper on the proposed Tax Breaks for Green Buildings program. From 1 July 2011, businesses investing in eligible assets or capital works which successfully improve the energy efficiency of their existing buildings from 2 stars or lower to 4 stars or higher (in accordance with NABERS Energy rating protocols) will be eligible for a once-off bonus tax deduction of 50 per cent of the cost of the improvements. The initiative is aimed at encouraging businesses to improve their energy efficiency and is welcomed by the commercial property industry.
Draft legislation concerning GST on Government fees and taxes has been released
- By Abi Chellapen
- Published 13/01/2011
- Public perspective
- Unrated
Draft legislation concerning GST on Government fees and taxes has been released
The Government has released draft legislation which proposes to overhaul the goods and services tax (“GST”) treatment of government taxes, fees and charges. Currently the Treasurer produces a biannual determination (a ruling which is binding on the Commissioner) which serves as an exhaustive list of GST exempt taxes, fees and charges. Broadly, the draft legislation proposes to move to a principles based exemption which allows government entities to self-assess the GST treatment of their fees and charges. It is proposed that the changes will take effect from 1 July 2011.
The Government has released draft legislation which proposes to overhaul the goods and services tax (“GST”) treatment of government taxes, fees and charges. Currently the Treasurer produces a biannual determination (a ruling which is binding on the Commissioner) which serves as an exhaustive list of GST exempt taxes, fees and charges. Broadly, the draft legislation proposes to move to a principles based exemption which allows government entities to self-assess the GST treatment of their fees and charges. It is proposed that the changes will take effect from 1 July 2011.