Holmes Institute HI6028 Taxation Assignment: GST and CGT Issues

This document presents a comprehensive solution to a taxation assignment, addressing two key questions related to Goods and Services Tax (GST) and Capital Gains Tax (CGT). The first question examines the GST implications for a property investment and development company, analyzing the tax consequences of land acquisition and legal service charges, including the application of Input Tax Credits. The second question delves into CGT liabilities across various scenarios, including the sale of land, shares, and collectable items, applying relevant sections of the Income Tax Assessment Act 1997 to determine tax obligations. The solution provides detailed calculations, legal analyses, and conclusions, offering a practical understanding of taxation principles.