GST and Involuntary Supplies

Edmundson, PR

GST and Involuntary Supplies

Edmundson, PR

Permalink

Publisher:: Monash University
Publication Type:: Journal Article
Citation:: Journal of Australian Taxation, 2003, 6 (2), pp. 224 - 244
Issue Date:: 2003-01

Open Access

Copyright Clearance Process

Recently Added
In Progress
Open Access

This item is open access.

Adobe PDF

Download full textAdobe PDF (91.52 kB)

View statistics

Full metadata record

Field	Value	Language
dc.contributor.author	Edmundson, PR	en_US
dc.date.issued	2003-01	en_US
dc.identifier.citation	Journal of Australian Taxation, 2003, 6 (2), pp. 224 - 244	en_US
dc.identifier.issn	1440-0405	en_US
dc.identifier.uri	http://hdl.handle.net/10453/929
dc.description.abstract	This article examines the application of GST to involuntary supplies. It does this by analysing the compulsory acquisition of land and the compulsory acquisition of securities. It is clear that the compulsory acquisition of land under statutory mechanisms generally should not involve taxable supplies as the dispossessed landholder is passive in the process. This highlights a key limitation of the concept of a supply. The Commissioner recently has acknowledged this treatment despite expressing a contrary view for more than two years. The GST treatment of the compulsory acquisition of securities is more uncertain. These uncertainties largely arise from whether the limitations of the concept of supply also apply in relation to the definition of financial supply in the A New Tax System (Goods and Services Tax) Regulations 1999.	en_US
dc.publisher	Monash University	en_US
dc.relation.ispartof	Journal of Australian Taxation	en_US
dc.title	GST and Involuntary Supplies	en_US
dc.type	Journal Article
utslib.citation.volume	2	en_US
utslib.citation.volume	6	en_US
utslib.for	1801 Law	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Law
utslib.copyright.status	open_access
pubs.consider-herdc	false	en_US
pubs.issue	2	en_US
pubs.volume	6	en_US

Abstract:

This article examines the application of GST to involuntary supplies. It does this by analysing the compulsory acquisition of land and the compulsory acquisition of securities. It is clear that the compulsory acquisition of land under statutory mechanisms generally should not involve taxable supplies as the dispossessed landholder is passive in the process. This highlights a key limitation of the concept of a supply. The Commissioner recently has acknowledged this treatment despite expressing a contrary view for more than two years. The GST treatment of the compulsory acquisition of securities is more uncertain. These uncertainties largely arise from whether the limitations of the concept of supply also apply in relation to the definition of financial supply in the A New Tax System (Goods and Services Tax) Regulations 1999.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/929