Have you ever had a client resolve a dispute and ask whether GST should be included in a settlement sum paid under a settlement deed? You’re not alone!
Clients often ask their accountants to advise on the GST implications of a dispute resolution. In this webinar, we will work through case studies to help you advise clients on the GST implications of payments made to settle or resolve a dispute.
We will cover:
- the common misconception that a payment is not subject to GST because it’s for damages – there’s more to it than that!
- identifying the types of supplies that can be made under a settlement arrangement and the consideration for those supplies
- the consequences of getting the GST treatment wrong
- things to look out for in GST clauses.
After the webinar, you should be able to advise clients on the GST implications of payments made under agreements to settle a commercial dispute and identify risks with GST clauses in settlement agreements.