A New Tax System (Goods and Services Tax) Act 1999

Chapter 3 - The exemptions  

Part 3-1 - Supplies that are not taxable supplies  

Division 38 - GST-free supplies  

Subdivision 38-O - Farm land  

38-480   Farm land supplied for farming  

The supply of a freehold interest in, or the lease by an * Australian government agency of or the * long term lease of, land is GST-free if:

(a) the land is land on which a * farming business has been * carried on for at least the period of 5 years preceding the supply; and

(b) the * recipient of the supply intends that a farming business be carried on, on the land.