Business Services Industry
[1585] GST and transitional leases: Tax Office accepts its views in DB Rreef case was wrong.
Australasian Business Intelligence, September, 2006
Byline: Terry Hayes
Sep 11, 2006 (Weekly Tax Bulletin - ABIX via COMTEX) -- The Australian Taxation Office (ATO) recently lost its appeal in the case of "FCT v DB Rreef Funds Management". The case involved the goods and services tax (GST) and whether it should be applied to a transitional lease. The ATO has now announced its view in the DB Rreef case was not the correct one, nor was it correct in a similar case involving Coles Supermarkets. In regard to the DB Rreef case, the ATO has promised to issue an amendment to the relevant section of GSTR 2000/16 as soon as possible.
Publication Date: 1 September 2006
AUSTRALIAN TAXATION OFFICE
DB RREEF FUNDS MANAGEMENT LIMITED
FEDERAL COURT OF AUSTRALIA
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