Federal Court decision regarding GST enterprise requirement - 7 Nov 2013
Thursday, 07 November 2013
In order to claim input tax credits (refunds of Australian GST), it is necessary that the relevant purchase or expense forms part of an "enterprise". In a Federal Court case decided this month, the Court held that an activity of litigation funding did not, in the circumstances of the case, constitute an enterprise. To understand the width of the definition of enterprise, here is a link to the Federal Court's decision in Professional Admin Service Centres Pty Ltd v Commissioner of Taxation  FCA 1123.