How will AI tools like ChatGPT transform GST practices? While advance language models can generate sample GST clauses, the true value for clients comes from the experience of professionals who understand the law, together with ATO and commercial practices and procedures. The article uses a sample GST clause created by ChatGPT to discuss the importance of knowing the right prompts and critically reviewing the output when using large language models.

The GST five-year rule doesn’t apply to NDIS providers or endorsed charities, such as Community Housing Providers. In this article I discuss the reasons why, along with suggestions for legislative reform and a potential option available for some charities. A detailed worked example is included to illustrate the issues.

When selling an untenanted building or parcel of land, a vendor may be asked to grant a “going concern lease” to ensure the sale is GST-free and a duty saving is available to the purchaser. This creates GST risks that need to be managed by the vendor, but may also create risks for the purchaser (or their solicitor / agent), particularly in New South Wales with its tax promoter penalty regime. Documenting the reasons for the lease and obtaining a private ruling can help mitigate these risks.