Goods and Services Tax Industry Issues
Property and Construction Industry Partnership

WITHDRAWN - Input tax credits - input taxed supply or taxable supply

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The Goods and Services Tax Industry Issue titled Input tax credits - input taxed supply or taxable supply is withdrawn with effect from today.

1. The issue concerns whether a taxpayer makes an input taxed or taxable supply when leasing residential premises for use as a display home and therefore whether there is an entitlement to input tax credits on its acquisition.

2. The issue is being withdrawn because Goods and Services Tax Ruling GSTR 2012/5 Goods and services tax: residential premises sets out the view that the supply by way of lease of residential premises for use as a display home is an input taxed supply under section 40-35 of the A New Tax System (Goods and Services Tax) Act 1999.

Commissioner of Taxation
19 December 2012

References