Kais Jewellery (Syd) Pty Ltd and Commissioner of Taxation (Taxation) [2022] AATA 425

TAXATION – GOODS AND SERVICES TAX – whether applicant entitled to input tax credits on purported acquisitions of scrap gold – where neither purported supplier paid GST on purported supplies – where no evidence of how suppliers sourced scrap gold - whether acquisitions made – weight to be given to statement provided by witness who died before hearing – applicant’s burden of proof not discharged – decision affirmed

TAXATION – INCOME TAX - whether large cash withdrawals from company bank account income of director or consideration for acquisitions of scrap gold paid in cash – applicant’s burden of proof not discharged – decision affirmed

TAXATION – ADMINISTRATIVE PENALTY – where taxpayer sought to discharge burden of proving penalty assessments excessive only by proving there were no primary tax shortfalls – where taxpayer failed to prove primary tax assessments are excessive – where taxpayer made no submission that base penalty was otherwise incorrect or should be remitted – decision affirmed

Full decision here