Qantas' argument on this case appeared doomed from the start. If it didn't ptovide a service (as it claimed) how could it hold onto the tax. Surely it would have to be repaid to the customer even if the actual fare component didn't. The alternative was, as decided by the High Court, that it had provided a service and GST was payable.
Does anyone know how QF had accounted for this? I assume they had had kept it as a liability in their books pending the decision. If it had gone in their favour they would have had an abnormal gain. If they had previously recognised the revenue, they have to process a big expense in this financial year and given GST nevers applies to international fares it can't be sheeted home to the "unwanted orphan."