Newsletter
July 2010 Newsletter
Vacant Land not Input Taxed as 'Residential Premises'
In a recent case, the Full Federal Court unanimously dismissed a taxpayer's appeal against an assessment of GST in respect of the sale of two separate blocks of vacant land in 2004 and 2005. The Full Court held that vacant land is not land capable of being occupied as a residence or for residential accommodation within the GST definition of ‘residential premises’.