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