Tax Laws Amendment (2011 Measures No. 9) Act 2012 (12 of 2012)

Schedule 4   New residential premises

Part 1   Amendments

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

5   After subsection 40-75(2)

Insert:

Subdivisions etc. may not result in new residential premises

(2AA) Despite subsection (1), the *residential premises are not new residential premises if:

(a) they are created from residential premises that became the subject of a *property subdivision plan; and

(b) the residential premises referred to in paragraph (a) were not new residential premises immediately before they became the subject of that plan.

This subsection has effect subject to paragraphs (1)(b) and (c).