Trustees of the Collins Retirement Fund v CofT – GST payable on sale of subdivided lots because ‘turnover’ included the sales proceeds
The AAT has held that an SMSF, that sold subdivided residential lots, was subject to GST on their sale, despite not being registered for GST. This was on the basis that it was ‘required to be registered’, which, in turn, depended on whether their sales proceeds could be excluded from the relevant turnover calculations. This…