Publications
Financial Services Quarterly
Contents:
Download full document
(247K PDF Document)
To view this document you will need to download a copy of Adobe Acrobat.
GST payable on mortgagee sales
The Court of Appeal 1 has confirmed that GST is payable in respect of a mortgagee sale and is to be paid to Inland Revenue in priority over any secured creditors – the GST is effectively a cost of sale.
This reverses the High Court decision 2 which held that secured creditors enjoyed priority over the Inland Revenue.
We understand that the Court of Appeal decision is to be appealed to the Privy Council.
Enquiries and information
For more information on any of the cases, articles and features in Financial Services Quarterly, please email Rachel Gowing or call on 64 9 916 8825.
Disclaimer
This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.
