TAXATION – goods and services tax – input tax credits – creditable acquisitions – creditable purpose – whether life insurer is entitled to input tax credits under the A New Tax System (Goods and Services Tax) Act 1999 (Cth) for certain acquisitions, being commissions paid to licensed distributors of life insurance policies and “overhead” expenses – where life insurer made GST-free supplies of reinsurance – whether commissions and overheads are credible acquisitions as relating not only to input taxed supplies – fair and reasonable method of calculating extent of creditable purpose
Original article available at: https://www.judgments.fedcourt.gov.au/judgments/Judgments/fca/single/2023/2023fca0680
For more information, see the original judgement.
