Taxpayer bought the land for living,
they bought the land from developer and buying contract had taxable supply and gst margin tick.
They decided not to proceed due to high living cost and decided to sell the land as it is.
Does it have gst implication at the time of selling.
Is it an enterprise activity?
If taxpayer purchased the land to build their main residence then decided not to go ahead the sale would not be subject to GST. There are Capital Gains Tax (CGT) implications though.
If taxpayer purchased the land to build their main residence then decided not to go ahead the sale would not be subject to GST. There are Capital Gains Tax (CGT) implications though.
21 May 2026 · 4 min read time
15 Apr 2026 · 8 min read time
143 views
1 replies