Goods and Services Tax Ruling
GSTR 2003/3ER - Erratum
Goods and services tax: when is a sale of real property a sale of new residential premises?
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FOI status:may be released
Paragraph 142 of Goods and Services Tax Ruling GSTR 2003/3 contains a definition for commercial residential premises as set out in section 195-1 of the A New Tax System (Good and Services Tax) Act 1999 (GST Act). Paragraphs (da) to (f) of the section 195-1 definition have been incorrectly reproduced in the GSTR 2003/3 as paragraphs (e) to (g).
Paragraph 147 contains the definition for new residential premises as set out in section 40-75 of the GST Act. Subsection 40-75(2) of the definition has been incorrectly reproduced in GSTR 2003/3 by treating the words after paragraph (c) as paragraph (d).
1. Paragraph 142
2. Paragraph 147
- However, the premises are not new residential premises if, for the period of at least 5 years since:
- if paragraph (1)(a) applies (and neither paragraph (1)(b) nor paragraph (1)(c) applies) - the premises first became residential premises; or
- if paragraph (1)(b) applies - the premises were last substantially renovated; or
- if paragraph (1)(c) applies - the premises were last built;
- the premises have only been used for making supplies that are input taxed because of paragraph 40-35(1)(a).
Commissioner of Taxation
18 June 2003