A class action will seek to recoup as much as $100 million in GST that may have been incorrectly charged on the sale of apartments in the ACT.
International litigation funder IMF Bentham, which is working with Corrs Chambers Westgarth, announced the law suit to the ASX on Tuesday morning.
It has lodged a statement of claim with the Federal Court in NSW that alleges Belconnen Lakeview, a company in the Hindmarsh Group, charged and collected GST on the sale of 352 units in Altitude Apartments when no GST was payable.
But the problem may have been more widespread, with IMF Bentham having identified 25 residential developments sold by a range of developers in the ACT that may fit the same criteria.
“Over 3000 unit owners in the…
Read the full article at: http://www.afr.com/news/policy/tax/class-action-seeks-to-reclaim-100-million-gst-from-apartment-sales-20170809-gxshev