Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 38.480

    The supply of a freehold interest in, or the lease by an * Australian government agency of or the * long term lease of, land is GST - free if:

  (a)   the land is land on which a * farming business has been * carried on for at least the period of 5 years preceding the supply; and

  (b)   the * recipient of the supply intends that a farming business be carried on, on the land.