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17 Nov 11 GST: cessation of farming activities after a decision to sell - GSTD 2011/2

On 16 November 2011, the ATO issued final GST Determination GSTD 2011/2 entitled "Goods and services tax: can a 'farming business' be carried on, for the purposes of s 38-480(a) of the A New Tax System (Goods and Services Tax) Act 1999, where there has been a cessation of routine farming activities by the supplier for a period of time as a consequence of a decision to sell the land?"

It was previously released in draft form as GSTD 2011/D1.

The Ruling answers the question posed in the title thus:

"Yes, a 'farming business' can be carried on for the purposes of s 38-480(a) of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act), where there has been a cessation of routine farming activities by the supplier for a period of time in anticipation of a sale. Whether a farming business continues to be carried on is a question of fact and degree depending on the circumstances of each particular case."

 


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