Exposure draft legislation has been released which proposes amendments to the GST legislation to make it clear that liquidators and other representatives of incapacitated entities are liable for GST on transactions within the scope of their appointment.
Date of effect
It is proposed that the main operative provisions of the legislation have effect retrospectively from the commencement of the GST Act on 1 July 2000.
Background
Filed under:
Australia, Insolvency & Restructuring, Tax, Norton Rose Fulbright, Tax exemption, Bankruptcy, Unsecured debt, Dividends, Tax credit, Consideration, Liquidation, Goods and services tax (Canada), Liquidator (law), Aircraft registration, Goods and services tax (Australia), Goods and Services Tax (New Zealand), Constitutional amendment, Federal Court of Australia
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