Cash World Gold Buyers Pty Ltd and Commissioner of Taxation (Taxation) [2020] AATA 1546

TAXATION – GST – input tax credits – gold industry – creditable acquisition – whether applicant made acquisitions of precious metal or scrap gold – whether acquisitions made from intermediaries – whether acquisitions made through intermediaries acting as agents – form of tax invoices – whether second-hand goods rules apply – meaning of second-hand goods – form of records required for acquisitions of second-hand goods – whether excess GST passed on to another entity – shortcomings in evidence – whether Commissioner allowed to recover GST twice – recklessness as to operation of taxation laws – amendment of grounds of objection permitted – objection decision re assessment of net amount affirmed – objection decision re imposition of penalty affirmed – decision not to remit penalty affirmed

Full decision here