Compliance Essentials

High Court’s first decision on GST: GST payable on forfeited deposit

Category: Tax | by David Jacobson

In  Commissioner of Taxation v Reliance Carpet Co Pty Limited 
[2008] HCA 22 the High Court decided that GST was payable on the deposit on a real estate sale which was forfeited to the seller when the seller terminated the contract upon default by the purchaser in completion of the sale.

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