The GST system continues to develop and mature with a number of important cases and rulings continuing to emerge on a regular basis. This paper examines and explores some of the key developments that have taken place over the past 12 months including:
- reliance Carpets and the treatment of security deposits
- the approach of the Courts and AAT to the imposition of penalties for nonpayment/underpayment of GST
- mixed and composite supplies - when is something really "free"?
- the application of GST to charities and not-for-profits
- trusts and bare trusts as separate taxpaying entities
- real property - continuing to create real issues especially for residential property developers.