GST implications for the recovery of legal costs
If a party entitled to recover costs has received an input credit for GST purposes, the question arises as to whether the amount recovered by the party who has obtained the input credit should be reduced by the amount of the input tax credit, to ensure that party does not make a profit, consistent with the priniciple that the primary purpose of an award of costs is to indemnify the successful party. The answer may vary, depending upon the nature of the costs and the basis on which they are assessed. It may also depend upon the specific requirements of the legislation and rules of court in each jurisidiction. This articles explores the GST implications for the recovery of legal costs in Australian jurisdictions, and includes analysis of relevant unreported costs decisions.
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|Item Type:||Journal Article|
|Keywords:||recovery of costs, indemnity principle, basis of assessment, GST implications for recovery of costs, Hennessey Glass, Merringtons|
|Subjects:||Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Taxation Law (180125)|
|Divisions:||Current > QUT Faculties and Divisions > Faculty of Law|
|Copyright Owner:||Thomson Legal and Regulatory Ltd|
|Deposited On:||19 Dec 2007|
|Last Modified:||10 Apr 2013 00:52|
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