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

Chapter 3 - The exemptions  

Part 3-1 - Supplies that are not taxable supplies  

Division 40 - Input taxed supplies  

Subdivision 40-C - Residential premises  

40-65   Sales of residential premises  


A sale of * real property is input taxed , but only to the extent that the property is * residential premises to be used predominantly for residential accommodation (regardless of the term of occupation).


However, the sale is not input taxed to the extent that the * residential premises are:

(a) * commercial residential premises ; or

(b) * new residential premises other than those used for residential accommodation (regardless of the term of occupation) before 2 December 1998.


For sales of residential premises that are new residential premises, the recipient of the supply must pay an amount representing the GST on the supply to the Commissioner under section 14-250 in Schedule 1 to the Taxation Administration Act 1953 , and the entity liable for the GST on the supply is entitled to a credit for that payment under section 18-60 in that Schedule.

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