Entering into the fifth year of GST, a number of problem areas have emerged that illustrate the difficulty of applying GST law in a practical manner to certain every day commercial dealings. Indeed, the Business Activity Statement itself does not make provision for certain categories of transactions that occur on a daily basis. This presentation focusses on these problem areas, with particular emphasis on the practical application of GST to real property transactions, supplies of going concerns and the implications arising from the relationships between entities conducting businesses and the principals that own those businesses. The presentation also illustrates and discusses some of the commercial issues that have been solely based on the interpretation of GST in a contractual context.
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