The concept of “acquisition supplies” was a deliberate inclusion in the GST Regulations, but did anyone really understand the far-reaching consequences this apparent oxymoron would have on the interpretation and administration of GST? Long the subject of questions over their very validity, have they now escaped to wreak havoc in a way never intended? This presentation explores the rationale for the inclusion of the concept within the GST Regulations, the impact of recent cases on their practical consequences and possible problems for the future. This presentation focuses, in particular on:
- a world without acquisition supplies?
- the original intent of including acquisition supplies
- current implications – Travelex and the Commissioner’s views on acquisition supplies.