- The Full Court of the Federal Court of Australia dismissed the Commissioner of Taxation’s appeal in the Hannover Life case on 4 March 2024
- The primary judgment and subsequent orders were published in June and July 2023
- The appeal concerned findings related to the allocation of “overhead” costs and apportionment methodologies for GST input tax credits
- The case highlights the importance for taxpayers to review cost allocation approaches and apportionment methodologies for GST purposes
- Key takeaways include the scrutiny of cost allocations, consideration of contractual frameworks, and the review of cost allocation methods used for accounting or regulatory purposes.
Source: taxathand.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
