Queensland Consolidated Acts

LAND ACT 1994 - SECT 448B

448B Application of GST to purchase price for leases

(1) Subsection (2) applies—

(a) to all leases issued under this Act; and

(b) whether the lease was issued before or after the commencement of this section; and

(c) despite any provision contained in the lease.

(2) If the purchase price payable for freeholding the lease is for a supply for which GST is payable, the purchase price payable is the total of—

(a) the purchase price that would have been payable if the purchase price were not for a supply for which GST is payable; and

(b) 10% of the purchase price that would have been payable if the purchase price were not for a supply for which GST is payable.