If a Body Corporate/Owners Corporation is registered on a cash basis, what will happen when a levy notice is issued for the period 1-6-00 to 30-9-00 which is paid on 1-6-00 or no later than 1-7-00?
ATO Position The supply made by the Body Corporate/Owners’ Corporation is a right as they have entered into an obligation to take care of the complex. Payment of the levy entitles the owners to have the property maintained for a period and therefore the right is taken to be uniform over the period. A levy notice issued for a period which spans the implementation period, must be apportioned uniformly throughout the period and the GST is to be remitted on the portion that is attributable to the post 1 July 2000 period.
Related Questions
- If a Body Corporate/Owners Corporation is registered on a cash basis, what will happen when a levy notice is issued for the period 1-6-00 to 30-9-00 which is paid on 1-6-00 or no later than 1-7-00?
- Is a Body Corporate/Owners Corporation with an Australian Business Number (ABN) which is not registered for the Goods and Services Tax (GST) required to withhold 48.5% on invoices under $50.00?
- If an Body Corporate/Owners Corporation is registered, does it charge the GST on levies (administrative and sinking fund)?
