Original article by Robert Gottliebsen
The Weekend Australian – Page: 31 : 21-Dec-19
The Administrative Appeals Tribunal’s landmark ruling in favour of the Australian Taxation Office against gold refiner EBS has significant implications for small and medium enterprises. The case – which centred on the tax treatment of bullion and scrap gold under the GST regime – had gone on for about six years, and the appeals process is likely to take another several years. The majority of SMEs simply cannot afford the cost of such lengthy legal proceedings. The small business appeals tribunal may provide some relief for SMEs, but government action is needed to make it easier for SMEs to conduct business in Australia.
AUSTRALIAN TAXATION OFFICE, AUSTRALIA. ADMINISTRATIVE APPEALS TRIBUNAL, EBS