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1 Will the supply of Lot 3 in Deposited Plan XXXXXX (Lot 3) located at Property XXXXX (the Property) be made in the course or furtherance of an enterprise that you carry on pursuant to section 9-5(1)(b) of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act)?

1 No, the supply of Lot 3 is not made in the course or furtherance of an enterprise that you carry on pursuant to section 9-5(1)(b) of the GST Act. Pursuant to section 9-20(1)(a) of the GST Act, the supply of Lot 3 will not be in a form of a business, it's being sold as vacant possession. All farming activity that may have previously occurred on Lot 3 will have ceased when Lot 3 is sold. Pursuant to section 9-20(1)(b) of the GST Act, the supply of Lot 3 will not be in the form of an adventure or concern in the nature of trade. The supply of Lot 3 will be in its long-exited state and condition and you have not undertaken any activities to subdivide or otherwise develop the land. The supply of Lot 3 is a one-off transaction, it will not be on a regular or continued basis pursuant to section 9-20(1)(c) of the GST Act. We do not consider that your activities involving the supply of Lot 3 bear the characteristics of a business or an adventure or concern in the nature of trade as described in paragraph 265 of Miscellaneous Taxation Ruling MT 2006/1 The New Tax System: the meaning of entity carrying on an enterprise for the purposes of entitlement to an Australian Business Number

. The supply of Lot 3 is a mere realisation of a capital asset. Your activities in respect to your supply of Lot 3 were carried out to finalise your inheritance pursuant to your late parent's last will and testament and were not done in carrying on an enterprise. Question 2 Are you required to be registered for GST pursuant to section 23-5 of the GST Act? Answer 2 No, you are not required to be registered for GST pursuant to section 23-5 of the GST Act. As such, section 9-5 of the GST Act is not met and the supply of Lot 3 will not be a taxable supply. Your current turnover pursuant to section 188-15 of the GST Act, and projected turnover pursuant to section 188-20 of the GST Act, is less than the turnover threshold (currently $75,000). The proceeds from the supply of Lot 3 do not form part of the GST projected turnover pursuant to section 188-25 of the GST Act, as it disregards supplies of capital assets. Pursuant to section 9-40 of the GST Act, GST is not payable on the supply of Lot 3. This ruling applies for the following periods : DD MM YYYY to DD MM YYYY The scheme commenced on: DD MM YYYY

•         The overall property comprises of Lot 1, Lot 2, and Lot 3. •         Lot 1 and Lot 2 are owned by individual partners of the partnership. •         The partnership inherited Lot 3 of the property as tenants in common on XX XX XXXX. •         Lot 3 has a homestead, used as a residence for a period of time before the sale of the property. •         The rest of the land on the property was used for a primary production business. •         The partnership has an Australian Business Number (ABN) but is not registered for GST. •         There is no formal partnership agreement in place for the business operation. •         Lot 3 entered into a contract of sale on XX XX XXXX. •         The sale of Lot 3 is interdependent on the sale of Lot 1 and Lot 2.

A New Tax System (Goods and Services Tax) Act 1999 section 9-5 A New Tax System (Goods and Services Tax) Act 1999 section 9-20 A New Tax System (Goods and Services Tax) Act 1999 section 9-40 A New Tax System (Goods and Services Tax) Act 1999 section 23-5 A New Tax System (Goods and Services Tax) Act 1999 section 188-15 A New Tax System (Goods and Services Tax) Act 1999 section 188-20 A New Tax System (Goods and Services Tax) Act 1999 section 188-25