{"id":13966,"date":"2016-12-12T07:25:51","date_gmt":"2016-12-11T19:55:51","guid":{"rendered":"http:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/"},"modified":"2020-11-29T00:20:47","modified_gmt":"2020-11-28T12:50:47","slug":"leased-properties-were-still-new-residential-premises","status":"publish","type":"post","link":"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/","title":{"rendered":"Leased properties were still &#8216;new residential premises&#8217;"},"content":{"rendered":"<p>The AAT has held that GST applied to the disposal of four properties that had been built, leased and then sold.<\/p>\n<p><em>GST does not ordinarily apply to sale of residential premises unless they are &#8216;new residential premises&#8217;.\u00a0 However, there is a special rule in the GST law that states that a newly constructed property will not be &#8216;new residential premises&#8217; if it has been applied only to receive residential rent (i.e., leased out) for at least a five year period.<\/em><\/p>\n<p>In this case, the taxpayer had acquired four properties between November 2003 and August 2007, then built residential dwellings on them and, once completed, the dwellings were leased, and then sold between January 2011 and August 2012.<\/p>\n<p>The AAT agreed with the ATO that the sales of the four properties in question should be treated as sales of new residential premises.<\/p>\n<p>In particular, some of the dwellings had been simultaneously marketed for sale whilst being leased.\u00a0 Also, there were periods of time where the dwellings were without a tenant.<\/p>\n<p>Due to the combination of these factors, none of the dwellings were used <strong>only<\/strong> for making input taxed supplies (of residential rent) for a five year period.\u00a0 Therefore, when disposed of, they should have been treated as taxable supplies and subject to GST.<\/p>\n<p>The AAT also held that the &#8216;margin scheme&#8217; could not be applied to reduce the GST payable, as the taxpayer was not able to provide any written evidence of an agreement between her and the purchasers to apply the margin scheme, as required by the GST Act.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The AAT has held that GST applied to the disposal of four properties that had been built, leased and then sold. GST does not ordinarily apply to sale of residential premises unless they are &#8216;new residential premises&#8217;.\u00a0 However, there is a special rule in the GST law that states that a newly constructed property will&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-13966","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Leased properties were still &#039;new residential premises&#039; - Quantiphy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Leased properties were still &#039;new residential premises&#039; - Quantiphy\" \/>\n<meta property=\"og:description\" content=\"The AAT has held that GST applied to the disposal of four properties that had been built, leased and then sold. GST does not ordinarily apply to sale of residential premises unless they are &#8216;new residential premises&#8217;.\u00a0 However, there is a special rule in the GST law that states that a newly constructed property will...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/\" \/>\n<meta property=\"og:site_name\" content=\"Quantiphy\" \/>\n<meta property=\"article:published_time\" content=\"2016-12-11T19:55:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-11-28T12:50:47+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/leased-properties-were-still-new-residential-premises\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/leased-properties-were-still-new-residential-premises\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/#\\\/schema\\\/person\\\/1229e0370958728f31fa8f8604b0dfc2\"},\"headline\":\"Leased properties were still &#8216;new residential premises&#8217;\",\"datePublished\":\"2016-12-11T19:55:51+00:00\",\"dateModified\":\"2020-11-28T12:50:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/leased-properties-were-still-new-residential-premises\\\/\"},\"wordCount\":263,\"commentCount\":0,\"publisher\":{\"@id\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/#organization\"},\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/leased-properties-were-still-new-residential-premises\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/leased-properties-were-still-new-residential-premises\\\/\",\"url\":\"https:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/leased-properties-were-still-new-residential-premises\\\/\",\"name\":\"Leased properties were still 'new residential premises' - Quantiphy\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/#website\"},\"datePublished\":\"2016-12-11T19:55:51+00:00\",\"dateModified\":\"2020-11-28T12:50:47+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/leased-properties-were-still-new-residential-premises\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/leased-properties-were-still-new-residential-premises\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/leased-properties-were-still-new-residential-premises\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Leased properties were still &#8216;new residential premises&#8217;\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/#website\",\"url\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/\",\"name\":\"Quantiphy\",\"description\":\"Accounting, Taxation, Wealth &amp; Finance in one\",\"publisher\":{\"@id\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/#organization\",\"name\":\"Quantiphy\",\"url\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Screen-Shot-2020-10-15-at-11.04.47-am.png\",\"contentUrl\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Screen-Shot-2020-10-15-at-11.04.47-am.png\",\"width\":884,\"height\":260,\"caption\":\"Quantiphy\"},\"image\":{\"@id\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/#\\\/schema\\\/person\\\/1229e0370958728f31fa8f8604b0dfc2\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/10051da91b5ec8396300b2bb336697b7898938c99d91a95f5105956221760164?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/10051da91b5ec8396300b2bb336697b7898938c99d91a95f5105956221760164?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/10051da91b5ec8396300b2bb336697b7898938c99d91a95f5105956221760164?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\\\/\\\/quantiphy.com.au\\\/oldbackup\"],\"url\":\"https:\\\/\\\/quantiphy.com.au\\\/oldbackup\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Leased properties were still 'new residential premises' - Quantiphy","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/","og_locale":"en_US","og_type":"article","og_title":"Leased properties were still 'new residential premises' - Quantiphy","og_description":"The AAT has held that GST applied to the disposal of four properties that had been built, leased and then sold. GST does not ordinarily apply to sale of residential premises unless they are &#8216;new residential premises&#8217;.\u00a0 However, there is a special rule in the GST law that states that a newly constructed property will...","og_url":"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/","og_site_name":"Quantiphy","article_published_time":"2016-12-11T19:55:51+00:00","article_modified_time":"2020-11-28T12:50:47+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/#article","isPartOf":{"@id":"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/"},"author":{"name":"admin","@id":"http:\/\/quantiphy.com.au\/oldbackup\/#\/schema\/person\/1229e0370958728f31fa8f8604b0dfc2"},"headline":"Leased properties were still &#8216;new residential premises&#8217;","datePublished":"2016-12-11T19:55:51+00:00","dateModified":"2020-11-28T12:50:47+00:00","mainEntityOfPage":{"@id":"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/"},"wordCount":263,"commentCount":0,"publisher":{"@id":"http:\/\/quantiphy.com.au\/oldbackup\/#organization"},"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/","url":"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/","name":"Leased properties were still 'new residential premises' - Quantiphy","isPartOf":{"@id":"http:\/\/quantiphy.com.au\/oldbackup\/#website"},"datePublished":"2016-12-11T19:55:51+00:00","dateModified":"2020-11-28T12:50:47+00:00","breadcrumb":{"@id":"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/quantiphy.com.au\/oldbackup\/leased-properties-were-still-new-residential-premises\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/quantiphy.com.au\/oldbackup\/"},{"@type":"ListItem","position":2,"name":"Leased properties were still &#8216;new residential premises&#8217;"}]},{"@type":"WebSite","@id":"http:\/\/quantiphy.com.au\/oldbackup\/#website","url":"http:\/\/quantiphy.com.au\/oldbackup\/","name":"Quantiphy","description":"Accounting, Taxation, Wealth &amp; Finance in one","publisher":{"@id":"http:\/\/quantiphy.com.au\/oldbackup\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/quantiphy.com.au\/oldbackup\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"http:\/\/quantiphy.com.au\/oldbackup\/#organization","name":"Quantiphy","url":"http:\/\/quantiphy.com.au\/oldbackup\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/quantiphy.com.au\/oldbackup\/#\/schema\/logo\/image\/","url":"http:\/\/quantiphy.com.au\/oldbackup\/wp-content\/uploads\/2020\/10\/Screen-Shot-2020-10-15-at-11.04.47-am.png","contentUrl":"http:\/\/quantiphy.com.au\/oldbackup\/wp-content\/uploads\/2020\/10\/Screen-Shot-2020-10-15-at-11.04.47-am.png","width":884,"height":260,"caption":"Quantiphy"},"image":{"@id":"http:\/\/quantiphy.com.au\/oldbackup\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"http:\/\/quantiphy.com.au\/oldbackup\/#\/schema\/person\/1229e0370958728f31fa8f8604b0dfc2","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/10051da91b5ec8396300b2bb336697b7898938c99d91a95f5105956221760164?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/10051da91b5ec8396300b2bb336697b7898938c99d91a95f5105956221760164?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/10051da91b5ec8396300b2bb336697b7898938c99d91a95f5105956221760164?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/quantiphy.com.au\/oldbackup"],"url":"https:\/\/quantiphy.com.au\/oldbackup\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/quantiphy.com.au\/oldbackup\/wp-json\/wp\/v2\/posts\/13966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quantiphy.com.au\/oldbackup\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quantiphy.com.au\/oldbackup\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quantiphy.com.au\/oldbackup\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quantiphy.com.au\/oldbackup\/wp-json\/wp\/v2\/comments?post=13966"}],"version-history":[{"count":1,"href":"https:\/\/quantiphy.com.au\/oldbackup\/wp-json\/wp\/v2\/posts\/13966\/revisions"}],"predecessor-version":[{"id":14314,"href":"https:\/\/quantiphy.com.au\/oldbackup\/wp-json\/wp\/v2\/posts\/13966\/revisions\/14314"}],"wp:attachment":[{"href":"https:\/\/quantiphy.com.au\/oldbackup\/wp-json\/wp\/v2\/media?parent=13966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quantiphy.com.au\/oldbackup\/wp-json\/wp\/v2\/categories?post=13966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quantiphy.com.au\/oldbackup\/wp-json\/wp\/v2\/tags?post=13966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}