sec.448BApplication of GST to purchase price for leases

### sec.448B Application of GST to purchase price for leases Subsection (2) applies— to all leases issued under this Act; and whether the lease was issued before or after the commencement of this section; and despite any provision contained in the lease. 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— the purchase price that would have been payable if the purchase price were not for a supply for which GST is payable; and 10% of the purchase price that would have been payable if the purchase price were not for a supply for which GST is payable. s 448B ins 2000 No. 20 s 29 sch 3 (sec.448B-ssec.1) Subsection (2) applies— to all leases issued under this Act; and whether the lease was issued before or after the commencement of this section; and despite any provision contained in the lease. (sec.448B-ssec.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— the purchase price that would have been payable if the purchase price were not for a supply for which GST is payable; and 10% of the purchase price that would have been payable if the purchase price were not for a supply for which GST is payable. - (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. - (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.