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Notes Online Home 2014 Tax Schools Day 2 Tax agent warning areas in 2014
Recent decision highlights benefits of 'GST recovery' clauses in sales contracts
In this section of the notes we discuss the most recent developments that highlight the benefits of ‘GST recovery’ clauses in sales contracts. In particular the following:
- Court prevents vendor from recovering GST – Cityrose Trading Pty v Booth
- Whether a ‘GST recovery clause’ in a sales contract always protect the vendor from a future GST adjustment
- How clients that make supplies should be advising when putting together sales contracts