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13 Aug 099 Decision Impact Statement - Touram

On 12 August 2009, the ATO issued a Decision Impact Statement in relation to the AAT decision in Touram Pty Ltd atf the GKA Family Trust and FCT [2008] AATA 1167; 2008 ATC 10-070; 70 ATR 991. The case concerned whether the sale of a vacant block of land, held by the vendors in an unimproved state for 11 years, was a taxable supply being a supply in course or the furtherance of an enterprise. The AAT concluded that the vendors made a taxable supply of the land and the taxpayer, having acquired the land in the course of its enterprise, was entitled to an input tax credit. The ATO accepts that the conclusion of the AAT was open to it on the evidence accepted by the AAT.

For a copy of the Decision Impact Statement, go here


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