18 Dec 2019
Y&P NZ LTD v WANG [2019] NZCA 659
- Citation
- [2019] NZCA 659
- Court
- Court of Appeal
GST zero-rating is determined at the time the transaction actually settles; because these transactions did not settle the time for statutory or contractual GST notice had not expired, the vendor could not insist on GST at 15%; the vendor's insistence made tender futile so purchasers were not obliged to tender; vendor wrongly repudiated and was not entitled to cancel; the High Court order for specific performance (including contractual interest) stands and contractual interest is enforceable.