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
Justice Heath issued a sweeping judgment last month limiting the ability of liquidators to examine witnesses and seek documents. In the decision, ANZ National Bank Ltd v Sheahan and Lock [2012] NZHC 3037, the Court also:
The recent case of Simpson v Commission of Inland Revenue (HC, 17/5/2011; Dobson J, Wellington, CIV 2010-485-1860) concerned the issue of whether receivers are personally liable to account for goods and services tax (GST) on the sale of six properties effected by them.
In Stiassny v Commissioner of Inland Revenue the court considered whether the receivers of 2 companies trading together in partnership were personally liable for GST on the sale of partnership assets, and whether a claim could be made against the Commissioner of Inland Revenue for money had and received.
The Supreme Court of Canada ruled that bankruptcy trustees, receivers and secured creditors can continue to collect the full amount of accounts receivable of a bankrupt supplier, including the Goods and Services Tax (GST) component, even if an amount remains owing by the supplier to the Canada Revenue Agency (CRA).
The Supreme Court of Canada ruled that bankruptcy trustees, receivers and secured creditors can continue to collect the full amount of accounts receivable of a bankrupt supplier, including the Goods and Services Tax (GST) component, even if an amount remains owing by the supplier to the Canada Revenue Agency (CRA).
The recent case of Simpson v Commission of Inland Revenue (HC, 17/5/2011; Dobson J, Wellington, CIV 2010-485-1860) concerned the issue of whether receivers are personally liable to account for goods and services tax (GST) on the sale of six properties effected by them.
In Stiassny v Commissioner of Inland Revenue the court considered whether the receivers of 2 companies trading together in partnership were personally liable for GST on the sale of partnership assets, and whether a claim could be made against the Commissioner of Inland Revenue for money had and received.