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In my last bulletin, I examined a new ATO ruling on GST adjustments for mergers and acquisitions, and showed how you can receive a tax credit for transactions when a share purchase turns into an asset purchase.
Today I will use two scenarios to demonstrate that how you use the services relating to a merger or acquisition is what determines whether a GST adjustment applies.
Suppose you paid an expert for advice on whether or not it was worth buying a particular business. Do you know if you can claim a credit for the GST you paid for that advice?
What if you hired a lawyer to draft a contract for buying shares in a company? Can you claim a credit on that?
The ATO has handed down a new ruling which clarifies how GST is adjusted for goods and services that relate to mergers and acquisitions.
Well, it’s Friday. The end of Budget Week. One of the biggest weeks in the year for tax, and many of us are still wondering: what does the Federal Budget mean for me?
The biggest news, of course, was the scrapping of the long-awaited cut in the company tax rate. However, there were also many other changes announced by the Government, which you may not be aware of.
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