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Edited version of private advice
Authorisation Number: 1051792135813
Date of advice: 22 December 2020
Ruling
Subject: Sale of subdivided lots
Issue 1
The Commissioner has determined that sale of subdivided lots represents CGT event A1 under Division 104 of the Income Tax Assessment Act 1997.
Issue 2
The Commissioner has determined the sale of subdivided lots are not taxable supplies under the A New Tax System (Goods and Services Tax) Act 1999.
Relevant legislative provisions
Income Tax Assessment Act 1997 Division 104
A New Tax System (Goods and Services Tax) Act 1999 Section 9-5