GST 2012

Compensation for loss: Settlement arrangements, court orders and warranty claims

Source: National

Published Date: 6 Sep 2012

 

Most businesses will be exposed in some way to issues concerning compensation for loss, whether through insurance or damages or warranty claims. Natural disasters in recent times have brought insurance issues into particular focus.

This presentation covers:

  • basic concepts
    • taxable supply
    • supply
    • consideration
  • compensation for loss
    • statute
    • contract
    • voluntary payments
  • settlement arrangements
    • the ATO’s view - GSTR 2001/4
    • GST clauses
  • court or tribunal orders
    • making of an order
    • quantum meruit
    • court order amended for GST
  • apportionment
  • costs
  • cnterest (pre and post judgement)
  • waiver of the requirement to hold a tax invoice / adjustment note
  • settlement arrangement tips
  • warranty
    • background
    • ATO's View – GSTD 2006/1 and GSTD 2006/2
    • cases
    • analysis
    • proposed amendments to GST-free treatment of warranties
    • breach of warranty.

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Individual Session

Compensation for loss: Settlement arrangements, court orders and warranty claims

Author(s): Jayr Teng , Geoff Mann CTA , Nika Dharmadasa

Details

  • Published By: Geoff Mann CTA
  • Published On:6 Sep 2012
  • Took place at:Hilton Sydney

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