*Please note that the links to the content in this Part will direct you to Westlaw AU. If you are using Checkpoint, the links can be found in the Checkpoint PDF at the bottom of this post.
The latest issue of the Australian GST Journal (Volume 15 Part 1) contains the following material:
MBI Properties in the High Court: The meaning of “supply” and “price” – Gina Lazanas and Robyn Thomas
In the decision of Commissioner of Taxation v MBI Properties Pty Ltd  HCA 49, handed down on 3 December 2014, the High Court examined the GST consequences of a taxpayer acquiring residential premises subject to an input taxed lease. The High Court considered the question of whether, by honouring the lease covenants of the lessor (as it was required to do by law), the purchaser made input taxed supplies of residential premises to the lessee that gave rise to an increasing adjustment under Div 135 of the A New Tax System (Goods and Services Tax) Act 1999, ultimately concluding that the purchaser did make input taxed supplies to the lessee and a Div 135 increasing adjustment did arise. The case has broader implications, particularly in respect of the statutory definition of “supply,” which the High Court found need not be interpreted with any reference to its ordinary meaning. The article discusses those findings in detail, as well as the possible ramifications of the decision.
- Fluctuation in rates of sales tax on petroleum products in Pakistan – Shafi U Khan Niazi
- Place of supply in Malaysia’s new GST – Christine Peacock