The taxpayers have lodged a notice of appeal to the Federal Court against the decision of Frost DP in AAT Case [2012] AATA 616, Re Wynnum Holdings No 1 Pty Ltd & Ors and FCT. The AAT had held the taxpayer (the nominee and bare trustee of a joint venture trust) was not carrying on an enterprise in relation to the purchase of a property. In addition, it also held that the property purchased was not “commercial residential premises” under s 195-1 of the GST Act. Accordingly, the AAT affirmed the Commissioner’s disallowance of input tax credits in relation to the purchase of the property.
[LTN 199, 15/10]