6

Farm land

6.1  

Sale of farm land

6.1.1

You own a five acre property. On three acres of the property, you have been carrying on a farming business for the last five years. On the other two acres is a house which you have been using as your private residence and does not form part of a profit-making activity carried out by you. You are registered for GST for the farming business. You are selling the property to a buyer who does not intend to use the property for carrying on a farming business.

(a) Does GST apply to the sale of the property?
(b) Can the margin scheme apply to the sale of the entire property or only that part used for the farming business?

21/05/2013(u)

6.2

Lease of farm land (other than long term-leases or a lease by an Australian Government Agency)

6.2.1

You lease to a farmer a rural property with a residential dwelling. In working out the GST payable, does the rent need to be apportioned between the land and the dwelling?

04/12/03(u)

6.3

Subdivision of farm land

6.3.1 

This issue was under revision and removed as of 24/10/2003. The ATO view on this issue is contained in the Primary Production Issues register accessed by the link provided.

21/05/2013(u)

Tenants’ fixtures

What are the GST consequences when a tenant attaches a fixture to farmland?

04/12/03(w)